Sharjah, United Arab Emirates United Arab Bank has been awarded the 2017 Innovation Award by American enterprise data management company Informatica. The bank won in the category of Driving Mission Critical Operations with Informatica, in recognition of its achievements in driving mission critical operations by building an intelligent Data Management platform and leveraging the Data Management products within the operations.

The coveted award was received by Izzidin Abusalameh, Chief Operating Officer of United Arab Bank at Informatica Data Disruption summit held on November 7 th at the Burj Al Arab, and was presented by Kashif Rafique, Managing Director of Informatica Middle East and Africa and Emilio Valdes, Vice President of Informatica EMEA South.

Commenting on the award, Izzidin Abusalameh said “Winning Informatica’s 2017 Innovation Award is testament to United Arab Bank’s leading position as an innovator in the realm of banking sector data, and is in line with our Digital Transformation strategy. Partnering with Informatica as part of this journey, has helped us discover, access, integrate, and deliver critical data, reliably and at scale, to streamline analytics and critical operations, in addition to aiding us in the establishment of a single layer of integration across diverse applications throughout the enterprise.”

On his part, Kashif Rafique said: “United Arab Bank has always been committed to building sustainable long-term partnerships with its customers, and to adopting an innovative banking approach while remaining loyal to the UAE’s heritage. United Arab Bank partnered with Informatica end of the first quarter of 2017 and has already made tremendous progress towards achieving its digital and data-driven transformation vision, with the Informatica Data Management platform.”

The performance in the third quarter reflects continued positive traction against the Bank’s Transformation Strategy set out in H2 2015 to become a safer, stronger and sustainable Bank. Solid performance is evidenced across the period with the Bank reporting a Net Profit of AED50m, with UAB continuing to: strengthen its core businesses; run-down ‘non-core’ higher risk portfolios; streamline the cost base; and maintain key banking fundamentals.

Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of the Board of Directors, said,“The Board is pleased to see the improved operating performance continue into the third quarter of 2017 as the Bank continues to progress well against its strategy.

We believe that our revised low risk and UAE focused business model, together with the simplification and transformation of the Bank, positions us well to continue doing the right thing for our customers and deliver sustainable returns for our shareholders.”

Samer Tamimi, Acting Chief Executive Officer, commented, “We have seen another period of good financial and operating performance in Q3 2017 with the Bank reporting an underlying Net Profit of AED50m.

With the transformation strategy nearing completion since it started in H2 2015, non-core assets now represent 2% of the loan base. The benefits of branch rationalization have resulted in operating expenses being robustly managed recording 9% reduction against prior year. These positive results provide further tangible evidence that our revised strategy is appropriate given the economic environment.”

Financial Review

UAB reported a Net Profit for the nine months to 30 th September 2017 of AED50m, primarily driven by growth in Non-Interest Income and reduction in provision charges following a transition to a lower risk business model.

‘Non-core’ portfolio continued on its downward trajectory with further contraction of more than 50% recorded in Q3 2017 and now represent 2% of the total loan base. The Bank will continue to recycle risk weighted assets released from the deleveraged ‘non-core’ portfolios to support growth of ‘core’ activities, whilst ensuring UAB captures all available cross-sales opportunities.

Provision for Credit Losses for the nine months were AED210m, 37% lower than the same period in 2016, given prudent risk management and focused reduction in risk weighted assets. Going forward, although provisions have decreased significantly, UAB’s transition to a lower risk model should see these moderate further in the coming years.

Operating Expenses for the quarter were AED82m, representing a 9% reduction against Q3 2016 as the Bank continues to capture the benefits of the comprehensive review and subsequent overhaul of its cost base completed as part of the wider transformation strategy.

Going forward the Bank remains committed to ensuring the business is supported by an efficient operating model and will continue to invest in its people, processes, systems and other critical infrastructure. Our primary objectives remain unchanged: to leverage capabilities; improve efficiencies; and eliminate non- essential expenditure.

OUTLOOK

Mr. Tamimi concluded, “Our strategy remains on track, with both the Board and Management Team remaining vigilant and ensure we continue to enhance our enterprise risk management capabilities in line with our ultimate objective to build a lower risk, more efficient and sustainable Bank.”

Sharjah, UAE, 12 July 2017 - United Arab Bank P.J.S.C ("UAB" or “the Bank”) announces its Financial Results for the six months ended 30th June 2017.

UAB continues to record tangible progress against its Transformation Strategy set out in H2 2015 to become a safer, stronger and sustainable Bank. Solid performance is evidenced across H1 2017 with the Bank reporting a Net Profit of AED55m, with UAB continuing to: strengthen its core businesses; run-down ‘non-core’ higher risk portfolios; streamlined the cost base; and maintained key banking fundamentals.

This transformation has enabled UAB to comprehensively streamline its activities which will underpin the delivery of sustainable returns going forward.

Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of the Board of Directors, said, “The Board is pleased to see the improved operating performance continue into the second quarter of 2017 demonstrating the strength of our ‘core’ business.

Whilst the transformation strategy has delivered substantial changes to the size, shape and risk profile of the Bank, we realize the continued uncertainty in the macro-economic environment will require robust oversight of the Bank’s governance and control frameworks across 2017 and beyond to protect the long-term interests of our shareholders.”

UAB reported a Net Profit for the six months to 30th June 2017 of AED55m, primarily driven by growth in Non-Interest Income and material reduction provision charges following a transition to a lower risk business model.

Customer Loans across the Banks ‘core’ Corporate and Retail Units delivered an increase for the third consecutive quarter, whilst in parallel the ‘non-core’ portfolio continued on its downward trajectory with further contraction of 33% recorded in H1 2017 and now represent 3% of the total loan base. The Bank will continue to recycle risk weighted assets released from the deleveraged ‘non-core’ portfolios to support growth of ‘core’ activities, whilst ensuring UAB captures all available cross-sales opportunities.

Operating Expenses for H1 2017 were AED174m, representing a 13% reduction against H2 2016 as the Bank continues to capture the benefits of the comprehensive review and subsequent overhaul of its cost base completed as part of the wider transformation strategy. In 2016 this resulted in a 24% Y-o-Y reduction with the Management Team confident that further ‘double digit’ savings will be delivered in 2017 aided in part by the ongoing branch rationalization program.

Going forward the Bank remains committed to ensuring the business is supported by an efficient operating model and will continue to invest in its people, processes, systems and other critical infrastructure. Our primary objectives remain unchanged: to leverage capabilities; improve efficiencies; and eliminate non-essential expenditure.

OUTLOOK

Mr. Tamimi concluded, “Our strategy remains on track, with both the Board and Management Team remaining vigilant and ensure we continue to enhance our enterprise risk management capabilities in line with our ultimate objective to build a lower risk, more efficient and sustainable Bank.”

For further information, please contact:

United Arab BankCorporate Communications+971 6 5075222

22 Jun 2017 United Arab Bank wins Genesys Award for best use of technology in the banking sector

Sharjah, UAE, 10th June 2017- United Arab Bank P.J.S.C ("UAB" or “the Bank”) has received a Genesys Middle East Award 2017 in the Best Use of Technology in the Banking Sector category. The bank was selected for this prestigious award for its efforts in enhancing customer experience, namely by expanding the capacity of its call center, as well as the productivity of its agents, and enhancing the overall quality of call centers services.

The award was received by Ravi Bhatia, Head of Digital Banking at UAB, from Mohamed Afifi, Regional Director of Genesys Middle East, and Paolo Mariottini, Vice President of Genesys Italy and Middle East. The award ceremony was held on the sidelines of the Genesys Middle East Summit, held lately at Armani Hotel Dubai.

Commenting on this, Izzidin Abusalameh, Chief Operating Officer at UAB, said that the prestigious award adds to UAB’s strong track record of achievements and excellence accolades, which reflect the bank’s commitment to quality and highest standards in services and products that exceed customers’ expectations.

Abusalameh reaffirmed the keenness of UAB to adopt cutting-edge solutions to assure customers’ needs are met, especially in terms of quick and efficient communications. This, Abusalameh added, affirms the bank’s advanced position in the sector, and the success of its customer-focused strategy.

Commenting on this, Ravi Bhatia, Head of Digital Banking at UAB, highlighted that the award recognizes UAB’s efforts to achieve excellence and maintain its pioneering position in offering advanced services that focus on efficiency and reliability in a highly competitive market known for adopting latest technology and solutions in the world.

For his part, Mohamed Afifi, Managing Director of Genesys Middle East said: Today’s consumers are increasingly sophisticated and already accustomed to targeted offerings from businesses. With omnichannel banking, customers will have a consistent experience whether accessing their bank via a mobile, tablet or visiting a branch in person. If the banks don’t step up and provide this omnichannel experience, there are plenty of other institutions who unencumbered by legacy systems and cultures, are already relishing the opportunity. It is great to see how Genesys solutions helped ‘United Arab Bank‘, a major Bank in region deliver great customer experience to their customers across multiple channels.’

The Genesys Middle East Summit is one of the leading annual events in the region. The summit joins a group of highly acclaimed international experts and thought leaders, who meet to discuss the latest advances in innovation and omnichannel customer experience, as well as new generation customer experience solutions.

Genesys is a leading international provider of omnichannel customer experience and contact center solutions, on-premise and in the cloud. The company was named a Worldwide Leader by Gartner Magic Quadrant for Contact Center Infrastructure in 2017, for the 9th consecutive year. Over 10.000companies in 100+ countries around the world trust Genesys customer experience platform.

Sharjah, UAE, 20th April 2017: United Arab Bank P.J.S.C ("UAB" or “the Bank”) reports its Financial Results for the Three Months to 31st March 2017.

UAB reported a Net Profit of AED28m for Q1 2017 aided by more than 50% reduction in Provision for Credit losses given further contraction in high risk ‘Non-Core’ portfolio (which now constitute less than 4% of Total Loans).

Last 18 months represented a period of transition for UAB as the Bank embarked on its journey to become a safer, stronger and sustainable Bank. As part of this strategy, the Bank set out its priorities: strengthen its core businesses; run down non-core portfolios; streamline the cost base; and steadily improve its key banking fundamentals. Against each of these objectives UAB has continued to record tangible progress in Q1 2017.

The Board and Management Team remain fully committed to completing the transformation which will ultimately provide the platform for UAB to generate sustainable returns for its shareholders across the medium term.

The challenges which the Bank has now largely overcome were significant, yet the decisive actions taken will see UAB well placed to deliver shareholder value in the medium term.

We remain committed to completing our strategy and believe that our low risk business model will make UAB a safer, stronger and sustainable Bank and ensure it continues to play a key role in supporting the broader UAE economy.”

Samer Tamimi, Acting Chief Executive Officer, commented, “2017 represents the final stage of UAB’s transformation journey as the cost of risk begins to normalize, the Bank effectively completes the exit of its residual higher risk non-core portfolio and core business units begin to grow. To that effect the first quarter delivered tangible progress against these milestones.

The Bank’s NPL ratio of 5.9% is supported by legacy ‘non-core’ SME exposures reducing to less than 4% of Total Loans, with the Provision coverage standing at 117%.”

Financial Review

The Bank has continued to record significant progress in proactively deleveraging its ‘non-core’ higher risk portfolios. In the first 3 months of 2017 these ‘non-core’ portfolios reduced by a further 14% vs. 31st December 2016, whilst in total they have been managed down 77% since Q3 2015. As at 31st March 2017, ‘non-core’ high risk assets constitute less than 4% of Total Loans. Across 2017, this will remain a significant element of the Bank’s transformation with the recycled Risk Weighted Assets used to unlock the full earning power of the Bank (as evidenced by asset growth recorded in the core business for the second consecutive quarter).

We have streamlined our cost base, capturing savings across the core areas of people, platform, process and property, to deliver 24% Y-o-Y reduction in 2016 with the Management Team confident that further ‘double digit’ savings will be delivered in 2017 aided by the ongoing branch rationalization program.

UAB’s decisive and prudent approach to provisioning and its commitment to maintaining its Provision Coverage at or above 100% is again demonstrated with the ratio standing at 117% as at 31st March 2017 whilst the Bank’s NPL Ratio as at Q1 2017 (5.9%) is broadly in line with both FY 2016 position and the wider peer group average.

The Bank’s liquidity profile remains strong as evidenced by an improved Loan to Deposit Ratio of 85% compared to 101% in prior year. Customer Deposits (being 82% of Total Liabilities) have and will continue to represent the Bank’s key source of funds.

The importance UAB places on maintaining a robust liquidity profile is demonstrated by its consistent approach in managing both its Advances to Stable Resources and Eligible Liquid Asset Ratios comfortably above CB UAE thresholds. Combined with Capital Adequacy, Funding and Liquidity represent the fundamentals of a solid Bank and are therefore placed at the center of our transformation strategy.

OUTLOOK

Mr. Tamimi concluded, “We strongly believe that our safe, low risk business model is the right one, and our strategic progress and improving financial performance position us well for future success.”

The Bank is rated Baa2 by Moody's with ‘Stable’ Outlook.

For Management Discussion & Analysis please download the PDF in English | Arabic

10 Apr 2017UAB’s Annual General Meeting approves 2016 Annual Accounts

Sharjah, UAE, 10th April 2017: United Arab Bank P.J.S.C ("UAB" or “the Bank”) held its Annual General Meeting (AGM) on Monday, 10 April 2017, at the Coral Beach Resort in Sharjah. Chaired by H.E. Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of the Board of Directors, the AGM adopted all ordinary and extraordinary resolutions set forth in the meeting, including the approval of the consolidated financial statements for the year ended 31 December 2016.

The AGM further resolved on the distribution of a zero dividend for the year 2016.

The meeting was managed by Abu Dhabi Securities Market (“ADX”), under a Registrar Agreement that the Bank has signed with ADX, and attended by Members of the Board of Directors and Mr. Samer Tamimi, Acting CEO of UAB, as well as other senior management. The External Auditors (PWC) and representatives of the regulatory authorities were also present.

The shareholders approved the Board’s recommendation to re-appoint PWC as the external auditors of the Bank for the year 2017. In addition, the ability for the Bank to issue AT1 capital instruments was approved, thus, UAB will continue to progress through the final stages of the regulatory approval process to support the planned issuance.

Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of the Board of Directors,commented: "UAB's shareholders have again demonstrated their unwavering support and we are honored the majority were present at today’s meeting. For the Bank, 2016 represented a challenging period as we had to take decisive actions to address legacy issues. Nevertheless, throughout the Bank’s history it has always proved resilient and given the actions taken we are in a much stronger position to support the UAE economy going forward”.

Commenting on the AGM and the Bank’s future plans, Samer Tamimi, Acting Chief Executive Officer,said: “The meeting today was fruitful and constructive; it confirmed the commitment of the Management Team and the Board to building on the actions taken in 2016 as we continue our transition to a simpler, safer and more sustainable Bank. With the ongoing support of our shareholders and guidance of ‘The Commercial Bank’ we are well positioned to navigate through the challenging operating environment and ultimately generate sustainable returns”

United Arab Bank “UAB” celebrated recently the graduation of 10 of its promising Emirati employees from the prestigious ‘Reyadah’ Program for Accelerated Learning. ‘Reyadah’ is UAB’s flagship Training and Development program for existing Emirati talent pool. It is a unique and customized development plan spanning a period of 12 months. Reyadah training modules cover a range of subjects from technical banking skills to leadership development. Training is imparted through different mediums; classroom, outdoor, e-learning, on-job-training, mentorship among many others.

Samer Tamimi, Acting CEO of UAB said, “we are committed to up skill our UAE workforce to enable them to assume senior positions at UAB and the banking sector at large in the future.”

Reyadah was initially launched in November 2014. The first batch of candidates included 15 talented UAE Nationals, who participated in comprehensive career development training sessions, aimed at creating a highly competent and skilled talent pool of future leaders.

Further, UAB is currently working to attract more young nationals at different levels, and to provide them with cutting-edge training and development opportunities.

UAB is in final stages of capital injection which will improve CAR above 14%

Sharjah, UAE, 20th February 2017: United Arab Bank P.J.S.C ("UAB" or "the Bank") reports its Financial Results for the Twelve Months to 31st December 2016.

UAB reported a Net Profit before Provisions of AED489m in 2016 aided by savings in Operating Expenses of 24% against prior year and an Operating Income of AED861m. Notably, 2016 was a year of transition for UAB as the Bank embarked on its journey to become a safer, stronger and sustainable Bank. Central to this Transformation Strategy were four key pillars: pro-actively deleverage higher risk non-core portfolios; reduce costs; enhance the Bank’s risk and control frameworks; and strengthen key banking fundamentals.

With the continuing support of UAB’s Board and alliance partner (The Commercial Bank), the Management Team remain fully committed in completing the Transformation Strategy and ultimately generate sustainable returns for shareholders over the medium term.

Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of the Board of Directors, said, “Whilst the last 18 months have clearly been a challenging period for the Bank much has been achieved. We have substantially strengthened our Balance Sheet, focused on our core activities, de-risked the business and captured material cost savings through the successful execution of our strategy.

The Board and I are confident that our business plan is appropriate given the economic environment and we are cautiously optimistic as we move into 2017 to conclude our transformation plan.”

Samer Tamimi, Acting Chief Executive Officer, commented: “I would like to thank the Board for their support as the Bank continues along its transformation path. Since taking up the post in Q4 2015 we have had to complete a number of actions to address legacy issues necessary to restore UAB to sustainable profitability. In addition, the Bank is in the final stages of its application to increase its capital in order to support future business plans and provide an adequate risk buffer given forthcoming regulatory changes.

As we move forward, we will continue our focus on improving the core business whilst taking into consideration the increasingly competitive environment and other headwinds faced by all Banks. This only reinforces the need to continue our unrelenting focus on completing our transformation strategy.”

Financial Review

The Bank has continued to record significant progress in proactively deleveraging its ‘non-core’ higher risk portfolios. During 2016, these have been managed down 62% vs. 31st December 2015, whilst overall they have reduced by 73% since 30th September 2015. Consequently, Total Income reduced to AED861m in 2016, down from AED1,196m in FY 2015, although Non-Interest Income streams comprised 26% of Total Income vs. 17% in 2015.

We have streamlined our cost base, capturing savings across the core areas of people, platform, process and property, to deliver a 24% year-on-year saving.

The Bank’s liquidity profile remains strong as evidenced by a robust Loan to Deposit Ratio of 86% compared to 93% in prior year. Customer Deposits (being 81% of Total Liabilities) have and will continue to represent the Bank’s key source of funds.

The Bank’s Provisions for Credit Losses of AED1,011m include a material one-time charge necessary to address legacy issues; consequently, UAB’s full year financial results have been impacted with the Bank reporting a Net Loss of AED523m.

OUTLOOK

Mr. Tamimi concluded, ‘In 2017 UAB is committed to following through its Transformation Strategy with the ongoing support and assistance of our alliance partner, The Commercial Bank. UAB has been able to navigate through this challenging period and moving forward we will continue to focus on core business activities to deliver value for our shareholders.’

For Management Discussion & Analysis please download the PDF in English | Arabic

Sharjah, UAE, 23rd October 2016: United Arab Bank P.J.S.C ("UAB" or "the Bank") announces its Financial Results for the nine months ended 30th September 2016.

The performance in the third quarter reflects continued positive traction against the Bank’s transformation strategy. Aided by a substantial 44% reduction in Provisions for Credit Losses, stable Non-Interest Income and material cost savings from its streamlined operating model, UAB recorded a Net Profit of AED88m for Q3 2016, a 22% uplift against prior year.

These positive results provide tangible evidence that the revised strategy adopted in the Q4 2015 is the right way to move forward on the path to becoming a more efficient, lower risk and sustainable Bank.

Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of the Board of Directors, said, “We are pleased with the financial performance in the third quarter of 2016 as the Bank continues to progress well against its strategy. The Board and Management Team are committed to a clear approach: we set our priorities, we commit to our targets; and then we deliver.

Thus, over the past 12 months we have significantly strengthened the Balance Sheet, concentrated on our core activities, de-risked the business and captured bank-wide cost savings through the successful execution of our strategy, all of which have enabled the Bank to report a 22% uplift in Net Profit, whilst simultaneously enhancing our key funding, capital and liquidity metrics.

For UAB, our low risk and efficient UAE focused business model, together with the simplification and transformation of the Bank, positions us well to continue doing the right thing for our customers and deliver sustainable returns for our shareholders.”

Samer Tamimi, Acting Chief Executive Officer, commented, “We have seen another period of good financial and operating performance in Q3 2016 with the Bank reporting an underlying Net Profit of AED88m, supported by a robust capital, funding and liquidity profile. As in previous quarters, these results further support our belief that the revised business plan is appropriate given the macro-economic environment and taken together, the picture in the third quarter is one of strong and accelerating progress against our transformation plan.

Non-core deleveraging continues apace with 59% reduction since 30th September 2015 whilst this portfolio now represents less than 7% of our total loan book. Moving ahead, this remains a key element of the Bank’s transformation with the recycled Risk Weighted Assets the key to unlocking the full earnings power of our core business units.”

Financial Review

Total Income was AED211m in Q3 2016 as the Bank continues to deleverage its higher risk, albeit higher yielding non-core portfolios, offset by proactive cost of funds management. Given the strategic emphasis placed on deepening relationships within our core Corporate Banking unit and capturing associated cross-sales opportunities via complimentary Treasury services, the Bank continues to generate solid performance across Net Fees & Commissions and Other Operating Income with Non-Interest income up 42% vs. Q3 2015.

Operating Expenses for the quarter were AED90m, 19% lower year on year and 18% down against the same three month period in 2015 as the Bank captures the benefits associated with the comprehensive review and subsequent overhaul of its cost base. A key pillar of the Bank’s cost reduction strategy has been the rationalization of the branch network. To date approximately, a third of its branches have been closed whilst UAB retains a pan-Emirate physical footprint.

Provision for Credit Losses in Q3 2016 were AED104m, c.10% lower than Q1 / Q2 2016 respectively, being a significant reduction compared to Q3 2015 (AED466m) and Q4 2015 (AED288m) given prudent risk management and focused reduction in risk weighted assets. Going forward, although provisions have decreased significantly, UAB’s transition to a lower risk model should see these moderate further in the coming years.

UAB remains strongly capitalized with its Capital Adequacy Ratio improving to 16.1% in Q3 2016, comfortably above the regulatory requirement of 12%. Similarly, the importance the Bank places on maintaining a robust liquidity profile is demonstrated by its historically high Advances to Stable Resources Ratio (78.5%) and Eligible Liquid Asset Ratio of 18.4%, again comfortably above Central Bank of the U.A.E. thresholds.

Transformation strategy remains ahead of plan to build a more efficient, lower risk and sustainable Bank

July 18 2016, Sharjah, UAE: United Arab Bank P.J.S.C ("UAB" or “the Bank”) announces its Financial Results for the six months ended 30th June 2016.

Building on the Bank’s progress to date, UAB’s transformation strategy implemented in H2 2015 continues to yield benefits. Aided by solid performance across Net-Interest Income, material cost savings from its streamlined operating model and a substantial reduction in Provisions for Credit Losses, the Bank generated a Net Profit of AED71m for the first half of 2016, versus a Net Loss of AED511m in H2 2015.

These positive results provide further support that the path UAB embarked on in the latter part of 2015 given the slowing economy and increase in problem loan formation, specifically in the small and medium-sized company segment, is suitable given the economic backdrop. With the objective to build a more efficient, lower risk and sustainable Bank, UAB is returning to its traditional ‘core’ corporate roots, complimented by focused Retail and Treasury propositions, whilst continuing to proactively deleverage from its ‘non-core’ higher risk portfolios in an economically rationale manner. This transition has enabled the Bank to comprehensively streamline its cost base, which will underpin delivery of sustainable returns going forward.

Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of the Board of Directors, said, “The Board is pleased to see the improved operating performance continue into the second quarter, demonstrating the strength of our ‘core’ business. Although 2015 was a challenging year for UAB, when we look back I am increasingly confident it will be viewed as a defining period for the Bank.

We continue to explore various options to accelerate the process of managing down the ‘non-core’ elements of our business so that the Bank’s performance converges with our ‘core’ segments within an optimal timeframe.

Whilst the transformation strategy has delivered substantial changes to the size, shape and risk profile of the business, we realize the continued uncertainty in the macro-economic environment will require robust oversight of the Bank’s governance and control frameworks across 2016 and beyond to protect the long-term interests of our shareholders.”

Samer Tamimi, Acting Chief Executive Officer, commented, “These positive results provide further tangible evidence that our revised strategy is appropriate given the economic environment. I am pleased to report that our financial performance is aided by a significant progress within our ‘core’ business in addition to reduction in provisions and material cost savings. Non-Interest Income is up by 12% quarter on quarter due to increased focus on generating ancillary revenue streams, and our ‘core’ Customer Deposits grew by 3% against March 2016. Gross Loans remained in line with Q1 2016 despite a further 17% reduction in our ‘non-core’ in the second quarter.

Our Provisions are stable at Q1 2016 levels, however, H1 2016 has experienced a substantial reduction compared H2 2015. Looking further ahead, as UAB continues its transition to a lower risk model, these reductions will moderate further in the medium to long term.”

Financial Review

UAB reported a Net Profit for the six months to 30th June 2016 of AED71m, primarily driven by growth in Non-Interest Income and reduction in Operating Expenses following the comprehensive review of the Bank’s streamline business model.

Provisions for Credit Losses in Q2 2016 were AED117m, broadly in line with Q1 2016 (AED114m) and significantly lower compared to Q3 2015 (AED466m) and Q4 2015 (AED288m) respectively, where the Bank adopted a proactive approach to manage the deterioration in asset quality within its ‘non-core’ portfolios.

Non-Interest Income of AED68m represents a 12% uplift compared to prior quarter, although Net Interest Income is 16% lower due to the planned reduction across the Bank’s higher risk ‘non-core’ portfolios. Given the strategic decision to deepen relationships by targeting ancillary revenue streams within our ‘core’ Corporate Banking segment and capture cross-sales opportunities via complimentary Treasury and Retail offerings, the Bank recorded a 54% uplift in quarterly Fees & Commissions.

Operating Expenses of AED84m for the quarter were 7% lower than Q1 2016 and AED173m for H1 2016 were 20% below the first six months of 2015. The benefits associated with the comprehensive review and subsequent overhaul of the Bank’s cost base is demonstrated by an improving Cost : Income Ratio of 36% in H1 2016, which compares favorably against FY 2015 (41%), with UAB firmly on track to deliver year on year cost savings in excess of its 20% target.

UAB has maintained its Non-Performing Loan Ratio at 4.3% by prudently managing growth in its ‘core’ Customer Loans and continuing its strategy to proactively deleverage ‘non-core’ portfolios. In the first 6 months of 2016 these ‘non-core’ portfolios have reduced by 34%, whilst overall they have been managed down 52% since 30th September 2015. UAB’s Coverage Ratio of 105% as at 30th June 2016 is consistent with the Bank’s policy of maintaining coverage at or in excess of 100%.

In line with the Bank’s ongoing deleveraging strategy, gross customer loans remained in line with Q1 2016 despite a 17% reduction in the ‘non-core’ portfolio. The importance of maintaining an adequate funding base is demonstrated by a 3% uplift in ‘core’ customer deposits compared to first quarter, with the Bank’s Loan : Deposit Ratio improving to 98% as at 30th June 2016.

UAB remains strongly capitalized with its Capital Adequacy Ratio maintained above 15% in Q2 2016, comfortably exceeding the regulatory requirement of 12%. Similarly, the importance the Bank places on maintaining a robust liquidity profile is displayed by its Advances to Stable Resources Ratio of 82% and Eligible Liquid Asset Ratio of 15%, similarly well within Central Bank thresholds.

OUTLOOK

Mr. Tamimi concluded, “Our strategy is on track, with both the Board and Management Team fully aware of the challenges the current economic climate presents. As we remain vigilant to the macro-economic changes and ensure we continue to enhance our enterprise risk management capabilities, our objective to build a lower risk, more efficient Bank is unchanged.”

The Bank is rated Baa2 by Moody's with ‘Stable’ outlook.

For Management Discussion & Analysis please download the PDF in English | Arabic

12 May 2016United Arab Bank Introduces the Second Wave of ‘Reyadah’ Candidates, Driving and Developing the Bank’s UAE National Leadership

Sharjah, UAE, 8th May 2016 - United Arab Bank P.J.S.C ("UAB" or “the Bank”) continues to advance in its progressive Emiratisation efforts, selecting the second wave of National talent for its “Reyadah” program.“Reyadah” program was launched in November 2014 to develop the Bank’s future Emirati leaders. The first wave of candidates included 15 promising UAE Nationals who participated in comprehensive career development training sessions aimed at creating a highly competent and skilled talent pool of future leaders.Samer Tamimi - Acting Chief Executive Officer at UAB said: “Our success as an organization has been built on the quality of our human capital. Thus, we regard Emiratisation at UAB as an investment rather than an exercise to reach a specific percentage. Investing in the development of our UAE citizens through identifying their talents, training their skills and guiding their progress, creates suitable job opportunities for them and, simultaneously, enhances our performance as a bank and boosts our competitive advantage.”Throughout 2015, UAB continued to observe and assess high potential talent among UAE Nationals within the Bank. During the first quarter of 2016 UAB selected 30 high potential candidates to undergo a series of assessments for further leadership evaluation. These evaluations included psychometric testing on numerical, attitudinal and language based assessments, followed by one-to-one interviews with candidates regarding their career plans, growth paths and personal objectives, as well as an assessment center in the form of a leadership simulation and engagement event.The result of these wide-ranging assessments saw the top 15 candidates selected as the second wave of UAE National talent to participate in the “Reyadah” program. The program has also been enhanced with further technical, professional and soft skills training aimed at building 8 critical leadership competencies. The learning experience will be delivered through multiple channels including classroom, off-site and digital tools. This program has the advantage of technology utilization to create a digital collaboration platform for the Bank’s UAE Nationals to exchange and share critical information about the program, as well as best practices and feedback about their journey to inspire others.This approach is aims at nurturing and developing National talents while achieving the Central Bank mandate of growing UAE National headcount in key senior positions in the private sector.Samer Tamimi – Acting Chief Executive Officer said: “As a proud contributor to the growth and development of UAE Nationals in the financial sector, we are aligning our objectives with the “UAE Vision 2021” to encourage more participation of UAE citizens in the labor market through providing them with a high performance culture that attracts, develops, and rewards talent and contribution.”

Transformation strategy ahead of plan to build a more efficient, lower risk and sustainable Bank

April 21 2016, Sharjah, UAE: United Arab Bank P.J.S.C ("UAB" or “the Bank”) announces its Financial Results for the three months ended 31st March 2016.

UAB reports a profitable Q1 2016, with its transformation strategy implemented in H2 2015 progressing ahead of plan. Aided by a substantial reduction in Provisions for Credit Losses, an uplift in Non-Interest Income and material cost savings from its streamlined operating model, the Bank’s Net Profit stood at AED45m for the first quarter, versus a Net Loss of AED238m in Q4 2015.

These positive results follow on from UAB revisiting its strategy in the latter part of 2015 given the slowing economy and increase in problem loan formation, specifically in the small and medium-sized company segment. With the aim of building a more efficient, lower risk and sustainable Bank, UAB is returning to its traditional ‘core’ corporate roots, complimented by targeted Retail and Treasury propositions, whilst continuing to proactively deleverage from its ‘non-core’ higher risk portfolios. This approach enabled the Bank to comprehensively overhaul its cost base to further underpin delivery of sustainable returns going forward

Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of the Board of Directors, said, “Although 2015 was a challenging year for UAB, when we look back I am increasingly confident it will be viewed as a defining period for the Bank. These results represent a promising start on our path to rebuilding trust with our key stakeholders.

The future strategy of the Bank is clear. We are making real progress in managing down ‘non-core’ elements of our business and simultaneously seeing positive signs in the ‘core’ business. The Board is fully behind the strategy and believes we have the right Management in place to deliver it. As ever, there are risks and uncertainties; the Board’s role is to be supportive, whilst exercising robust oversight of the Bank’s risk and control frameworks to protect the long-term interest of shareholders.”

Samer Tamimi, Acting Chief Executive Officer, commented, “These positive results provide tangible support that our new strategy is taking shape. Whereas our return to profitability has been aided by a reduction in provisions and cost savings associated with a comprehensive cost structure review, I am satisfied that we have recorded significant progress in the ‘core’ business engine itself. This is evidenced by a 16% quarterly uplift in Total Income vs. Q4 2015, with Non-Interest Income up by c.400% given our increased focus on deepening relationships and capturing cross-sales opportunities.

Although our provisions have declined significantly quarter-on-quarter, UAB’s transition to a lower risk model will see these moderate further in the medium term.”

Financial Review

UAB reported a Net Profit for the three months to 31st March 2016 of AED45m, primarily driven by a decrease in Provisions for Credit Losses, growth in Non-Interest Income and cost savings associated with the program to streamline the Bank’s operating model.

Provisions for Credit Losses in Q1 2016 were AED114m, being a significant reduction compared to Q3 2015 (AED466m) and Q4 2015 (AED288m) respectively, where the Bank adopted a proactive approach to address the deterioration in asset quality within its ‘non-core’ portfolios.

Total Income of AED249m represents a 16% uplift compared to prior quarter, with Non-Interest Income growing c.400% in the same period. Given the strategic decision to deepen relationships within our ‘core’ Corporate Banking segment and capture cross-sales opportunities via complimentary Treasury services, the Bank recorded solid performance across both Fees & Commissions and FX Income, up 190% and 46% respectively.

Operating Expenses of AED90m for the quarter were 46% lower given ‘one-off’ and restructuring costs incurred in Q4 2015. The benefits associated with the comprehensive review and subsequent overhaul of the Bank’s cost base is demonstrated by an improving Cost : Income Ratio of 36% in Q1 2016, which compares favorably against FY 2015 (41%), with UAB firmly on track to deliver 20% year on year cost savings.

Although the Bank’s Non-Performing Loan Ratio of 4.33% represents an increase on FY 2015 (4.01%), this has been impacted by our ongoing strategy to proactively deleverage our ‘non-core’ higher risk portfolios. In the first 3 months of 2016 these ‘non-core’ portfolios have reduced by 20% vs. 31st December 2015, whilst in total they have been managed down 41% since 30th September 2015. UAB’s Coverage Ratio of 112% as at 31st March 2016 is consistent with the Bank’s policy of maintaining a ratio at or in excess of 100%.

In line with the Bank’s ongoing deleveraging strategy, Customer Loans and Advances have declined 3% against 31st December 2015 to AED15.3bn, with Customer Deposits managed efficiently to AED15.0bn.

UAB remains strongly capitalized with its Capital Adequacy Ratio improving to 15% in Q1 2016, comfortably above the regulatory requirement of 12%. Similarly, the importance the Bank places on maintaining a robust liquidity profile is demonstrated by its Advances to Stable Resources Ratio of 83.9% and Eligible Liquid Asset Ratio of 13.2%, both comfortably above Central Bank thresholds.

OUTLOOK

Mr Tamimi concluded, “Our strategy is still in its early stages, with both the Board and Management Team fully conscious of the challenges that the current economic climate presents. Nevertheless, given the early recognition of the issues facing the Bank and decisive actions taken, we are well placed to continue our journey of building a leaner and more efficient bank capable of generating ‘through the cycle’ returns.”

The Bank is rated Baa2 by Moody's.

For Management Discussion & Analysis please download the PDF in English | Arabic

15 Mar 2016UAB’s Annual General Meeting approves 2015 Annual Accounts and the amendment of the Articles of Association

March 14 2016, Sharjah, UAE: United Arab Bank P.J.S.C ("UAB") held its Annual General Meeting (AGM) on Monday, 14 March 2016, at the Coral Beach Resort in Sharjah. Chaired by H.E. Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of the Board of Directors, the AGM adopted all ordinary and extraordinary resolutions set forth in the meeting, including the approval of the consolidated financial statements for the year ended 31 December 2015.

The AGM further resolved on the distribution of a zero dividend for the year 2015, thus ensuring the Bank continues to benefit from a strong capital base (Capital Adequacy Ratio stood at 14.7% as at 31 December 2015).

The meeting was attended by Members of the Board of Directors and Samer Tamimi, Acting CEO of UAB, as well as other senior management. The External Auditors (KPMG) and representatives of the regulatory authorities were also present. The Chairman welcomed the attendees, alongside UAB Shareholders who attended the meeting.

The meeting was managed by Abu Dhabi Securities Market (“ADX”) under a Registrar Agreement that the Bank has recently signed with ADX. UAB is the first listed public shareholding company that concludes a similar agreement with ADX, which offers a wide range of value added services to UAB, including Registrar, planning and assisting the Bank at the management of its Annual General Assembly and the distribution and payment of dividends.

At the meeting, the shareholders approved the Board’s recommendation to appoint PWC as the external auditors of the Bank for the year 2016.

Under a special voting process, the shareholders adopted the amendments to the Articles of Association of the Bank and the creation of an authorized share capital in the amount of two billion seven hundred fifty million and sixty seven thousand five hundred and thirty two UAE Dirhams (AED 2,750,067,532), subject to all required regulatory approvals. This follows the issuance of the Federal Law No. 2/2015 concerning Commercial Companies last year. All companies are required under the new law to amend their articles of association to reflect the changes introduced in the law.

Sh. Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of the Board of Directors, commented: "UAB's shareholders have again demonstrated their unwavering support and we are delighted the majority were present at today’s meeting. For the Bank, the second half of 2015 represented a testing, yet defining, period. Nevertheless, throughout the Bank’s history it has always proved resilient and given the actions taken we are in a much stronger position to support the UAE economy going forward”.

On behalf of the Board of Directors, the Chairman thanked the UAE Central Bank, and all its regulators, for their valuable support. In addition he acknowledged the UAE Government for its ongoing leadership and direction as the overall economy continues to develop and prosper.

Commenting on the AGM and the Bank’s future plans, Samer Tamimi, Acting CEO said: “The meeting today was fruitful and constructive; it confirmed the commitment of the Management Team and the Board to building on the actions taken in Q4 2015 as we continue our transition to a simpler, lower risk Bank. With the ongoing support of our shareholders and guidance of ‘The Commercial Bank’ we are well positioned to navigate through the challenging operating environment and ultimately generate sustainable returns”

2015 was a pivotal year for UAB. Faced with the negative effects of a slowing economy, the Bank revisited its direction during the fourth quarter to build a more efficient and sustainable bank, better focused on its historic strength of serving the UAE corporate market.

UAB’s strong funding, capital and liquidity fundamentals supported its transformation efforts to proactively deleverage from its higher risk loan portfolio. As a result, UAB improved the quality of its loan portfolio and maintained its capital adequacy ratio at 14.7%, with its funding and liquidity profiles further strengthening in the fourth quarter of 2015.

As part of the restructuring drive, UAB enhanced its risk management culture and strengthened its Senior Management Team by appointing a number of senior executives. Moreover, the Bank's cost base has been overhauled to capture material year on year cost reductions from 2016 onwards with definitive actions taken to align both its headcount and branch network with its streamlined operating model. These measures will ensure UAB is in a solid position to support the UAE economy, as it has for the past 40 years, delivering value to its customers and generating sustainable returns for its shareholders.

UAB’s prudent provisioning approach in the last 6 months of 2015 impacted its full year financial results.

Consequently, the bank reported a net loss of AED 166 million for the twelve months ending 31 December 2015, compared to a net profit of AED 605 million in 2014. However, this decisive action enables UAB to retain a robust risk buffer, with a non-performing loan coverage ratio of 124%.

Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of the Board of Directors, said, “While the UAE’s diversified economy remains significantly more protected from a lower oil price than its regional peers, UAB has taken decisive action now to ensure the Bank is aligned to the changing economic environment. Our ability to absorb significant provisions in 2015, whilst maintaining our capital base and strengthening funding and liquidity, underlines the strength of the Bank.”

Samer Tamimi, Acting Chief Executive Officer, commented, "Our results were materially affected by the significant impact of provisions taken in the second half of 2015 following defaults predominantly in the SME segment. To improve financial stability, our first course of action was to deleverage from these higher risk portfolios, with significant efforts from our reinforced Credit Remedial Unit. I am satisfied with the swift progress the team has achieved during the fourth quarter, with Q4 provisions reducing by 38% when compared to Q3. We expect our provisions to moderate considerably in the future, ultimately returning to historic levels."

"To better cater to our customers’ financial needs we have consolidated all business lines under the newly created position of Chief Business Officer and we are investing in our IT infrastructure and capabilities to underpin long-term growth."

Financial Review

UAB reported a net loss for the twelve months to 31 December 2015 of AED 166 million, primarily driven by provisions taken during the second half of the year. Total Income of AED 1,213 million represents a 12% reduction when compared to prior year, with operating expenses of AED 491 million. Consequently, UAB’s cost to income ratio increased to 40.5% in 2015 versus 28.7% for FY 2014, albeit with the uplift primarily driven by one-off restructuring initiatives to streamline the Bank’s ongoing cost base.

The Bank’s non-performing loan ratio of 4.01% was broadly in line with 3.93% in Q3 2015, albeit an increase on 2.56% recorded for FY 2014. UAB’s coverage ratio of 124% as at 31 December 2015 is consistent with the Bank’s policy of maintaining a ratio at or in excess of 100%.

UAB remains strongly capitalized with its capital adequacy ratio maintained at 14.7%, well above the regulatory requirement of 12%. The Bank's robust liquidity profile is also demonstrated by an advances to stable resources ratio of 80.9% and an eligible liquid asset ratio of 18.7%, both comfortably above Central Bank thresholds.

UAB strengthened its funding profile in the fourth quarter as evidenced by its loan : deposit ratio, improving to 93% in Q4 2015, compared to 96% for both Q3 2015 and FY 2014 respectively. In line with the Bank’s focused deleveraging strategy, total customer loans and advances declined 13% on prior year to AED15.7 billion, with customer deposits of AED 16.8 billion as at 31 December 2015.

OUTLOOK

Mr Tamimi concluded, "In 2016 UAB will continue to make progress on the actions taken in Q4 2015 in order to build a leaner and more efficient bank. With our reshaped operating model, we are confident in our ability to quickly respond and adapt to changes stemming from the current challenging operating environment."

"Going forward, UAB will focus on its core business units, on cost leadership, on capital efficiency and on a prudent risk and funding profile to deliver growth and generate sustainable shareholder returns."

07 Jan 2016UAB Strengthens Management Team

Sharjah, 6 January 2016: United Arab Bank P.J.S.C ("UAB") announces changes to its senior management team to support the bank’s strategy of delivering value to its customers and sustainable growth to its shareholders. Julio de Quesada will assume a new role of Chief Business Officer (CBO), Sheikh Mohamed Al Nuaimi as Executive Vice President of Retail, and Vijit Malik as Head of Corporate and Institutional Banking.

The appointment of Julio, Sheikh Mohamed and Vijit to their respective positions underlines UAB’s efforts to align its organizational capabilities and leadership with its business strategy and plans for 2016 and beyond.

Julio who joined UAB in May this year as Executive Vice President, Wholesale & International Banking, brings a wealth of international commercial and corporate experience to UAB, having held several senior global positions in the finance industry over the last few decades. In this newly created role, Julio will have oversight of the entire bank business line(s), resulting in a more focused organizational structure aimed at strengthening cross-selling and enhancing product diversification.

Sheikh Mohamed has been part of UAB’s management team for the past 10 years, and has supported business growth through various roles. In this new position as EVP of Retail, he is responsible for leading the bank’s retail business and ensuring it achieves the performance objectives set.

Vijit, who joined UAB recently, has been appointed as Head of Corporate and Institutional Banking and brings over 17 years of local market industry experience to the Corporate & Institutional Banking division, in addition to his international experience in financial institutions

Mr Samer Tamimi, Acting Chief Executive Officer, commented: “These initial appointments are part of our plan to ensure the bank has the right leadership team to respond to the changing economic environment, as we align our business operations to facilitate better cross-function collaboration and build a simpler, low-risk and balanced organisation. This new organizational capacity combined with our strong capital structure and our conservative risk management framework, position us well to continue to provide our customers with a comprehensive, well-integrated suite of financial services.”

The credit facility marks the first syndicate lead for UAB as it seeks to pursue further syndicate lead roles in the region. The new facility will be used by Aegean to refinance an existing credit facility, with the balance to be used to pursue Aegean’s strategy of selling blended products to generate greater profitability.

The initial syndicate members were Abu Dhabi Commercial Bank, Commercial Bank of Dubai, National Bank of Oman, in addition to UAB in its role as syndicate lead.

Samer Tamimi, Acting CEO at UAB, said, “UAB has been supporting its clients in the UAE for the past 40 years, and we will continue to build on our established client relationships in the future. We are committed to the UAE market where we see promising opportunities to lead syndications on behalf of our clients in the country and across the region.

The deal demonstrates the strength of the relationship between participating banks. I would like to thank all syndicate members for their support of this deal. As we seek further syndicates in the region, we will increasingly form relationships with leading banks in the UAE and the region, to collectively facilitate strategic financing solutions for our clients.”

Julio de Quesada, Chief Business Officer at UAB, added, “Our ability to lead and market a USD120 million syndicated facility for our client, Aegean, is a testament to the value we deliver to our corporate clients; Aegean will now be able to refinance its oil terminal facilities in Fujairah.

UAB was able to attract strong interest from participating banks for Aegean, being an NYSE-listed company, with a sound track-record of financial performance and for being a significant subsidiary of AMPNI, one of the largest independent fuel suppliers in the world.”

E. Nikolas Tavlarios, President of AMPNI, commented, “We are pleased with the confidence this banking group has shown in our business and believe their support will help drive our growth plans in the region.”

Nine month profit down 86% to AED72m due to extensive additional provisioning

Capital adequacy ratio 14.4% as at 30 September 2015

October 14 2015, Sharjah, UAE: United Arab Bank P.J.S.C ("UAB" or "the Bank") announces its Financial Results for the nine months ended 30 September 2015.UAB reported a Net Profit of AED72m for the first nine months of 2015, compared to AED498m for the same period of 2014. Net profit was impacted by provisioning taken during the quarter of AED466m following a significant increase in loan defaults in UAB’s higher risk commercial loan portfolio.

Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of the Board of Directors, said, “The Board has mandated Management to take an uncompromising view on asset quality and to set aside a significant provision this quarter against the rise of defaults in some of UAB’s riskier assets. We have taken this decisive action to ensure that UAB is in the strongest position to pursue its strategy and support the UAE economy.”

Mr Paul Trowbridge, Chief Executive Officer commented, “We will be deleveraging from some of our higher risk assets over the course of the final quarter; we will continue to improve liquidity and continue to enhance our risk management.

30 Sep 2015UAB expands its network with two new branches

September 12 2015, Sharjah, UAE:United Arab Bank, FC Barcelona’s official partner in the UAE, today announced its plans to open two new branches in Dubai within the next two months.Conveniently located in Rashidiya’s Bin Sougat Mall and Bur Dubai Al Hamriya, the two new branches will provide customers with full-fledged offerings, including cash, sales and service facilities. The new outlets will bring the total number of UAB branches to 32 locations across the United Arab Emirates.

Tony B. Graham, Executive Vice President of Retail Banking at UAB, said: “The locations of the new branches were chosen after listening carefully to the needs of our customers.Our decision to open branches in Rashidiya and Bur Dubai, both of which are important residential and commercial centers respectively, reflects our commitment to improve convenience and the overall service experience for our customers across the UAE.We will continue to upgrade our network of branches as well as our telephone and digital service channels in response to our customers’ needs and ongoing feedback.”

29 Aug 2015United Arab Bank’s Cash Flow loans designed to help UAE residents pay for rent and school fees

August 29 2015, Sharjah, UAE:United Arab Bank has launched a range of loans specially designed to help customers meet the rising costs of rent and school fees. Cash Flow loan paid directly by the bank to the relevant landlord or educational establishments- is available to salary transfer customers at an interest rate of just 3.99%. By comparison, average market rates in the UAE range from 5.49% to 5.99%.

Tony B. Graham, Executive Vice President of Retail Banking at UAB, said: “Cash Flow is the only loan in the UAE that directly address the two largest – and most important – financial obligations most people have in the UAE: rent and school fees. Neither of these are optional though managing them can be very stressful for people as they are not aligned to the way people receive their salary. If you’re an employee of an approved company, Cash Flow can transform these expenses into manageable monthly installments.”

Cash Flow loans are available salary transfer customers of UAB customers who earn at least AED 10,000 per month. The maximum loan amount is the lower of five times’ fixed monthly salary or AED 400,000, with a repayment period of up to 12 months.

14 Jul 2015UAB announces its Financial Results for the six months ended 30 June 2015

Highlights vs. H1 2014

Net Profit up 5% to AED344m

Total Income improved 3% to AED696m

Total Assets up 6% to AED26.6bn

Customer Loans and Advances increased 3% to AED18.3bn

Earnings per Share up 4% to AED0.25

July 14 2015, Sharjah, UAE:United Arab Bank P.J.S.C ("UAB" or "the Bank") announces its Financial Results for the six months ended 30 June 2015.UAB reports a Net Profit of AED344m for H1 2015, representing a 5% uplift on H1 2014.

Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of the Board of Directors, said, “I am proud to announce a Net Profit of AED344m for H1 2015. This year marks a truly historic milestone for UAB as we celebrate its 40th anniversary following its inception in 1975. Throughout the past four decades, the Bank has successfully prospered in line with the country’s economic growth and adapted to the market’s changing needs, whilst remaining true to its customer-centric traditions. The relentless focus of the Board and Executive Team to build a strong Bank positions us well for sustainable growth in the future as we deliver on our commitments to our customers, shareholders and wider community.

Mr Paul Trowbridge, Chief Executive Officer commented, “I am very pleased with the financial results we delivered for the first half of the year, which provides further testament to the sustainability of our longterm strategy. During the period, we generated solid, underlying profitable growth and we are confident this gives us a platform to meet a more challenging economic outlook as we move into the second half of 2015. In parallel, we have continued to invest significantly in developing our people, enhancing our infrastructure and further improving our award winning customer propositions”.

20 Jun 2015United Arab Bank wins INSIGHTS award for Best Small Call Centre in the Middle East

June 20 2015, Sharjah, UAE:United Arab’s Bank’s call centre has been named the best of its kind in the Middle East, at INSIGHTS' Annual Middle East Call Centre 2015 Awards.UAB received the award in the ‘small call centre’ category, open to organizations operating in any industry in the Middle East region.

The award was presented by Dominick Keenaghan, President of INSIGHT, to UAB’s Ravi Bhatia, Assistant Vice President, Alternative Channels, and Firas Abu Hasan, Senior Manager, Alternative Channels, at a ceremony at the Crown Plaza Hotel in Dubai.

INSIGHTS awards, first launched a decade ago, are among the most highly valued in the region’s call centre sector. UAB’s call centre was judged to be the “Best Small Call Centre” in the Middle East based on a multitude of parameters, from the clarity of its vision and its strategic alignment with the overall strategy of the bank, to its work environment and culture, the values it exhibits in its everyday activities, the importance given to operational efficiency towards customer satisfaction, and the feedback received through mystery calling.

June 7 2015, Sharjah, UAE: FC Barcelona crowned as extraordinary champions over the 2014/15 football season by achieving a historic treble, emerging as winners of La Liga, the Copa del Rey, and the UEFA Champions League.

The Spanish champions, which have partnered with United Arab Bank since 2013, defeated Italian side Juventus in the Champions League final on June 6th to secure the treble in the same season, a feat very few clubs in Europe have ever achieved.

United Arab Bank has shown its support for the club in several ways during the past two seasons. The Bank has entertained hundreds of guests at its VIP suite in the legendary Camp Nou stadium and offers Barca-themed products including the FC Barcelona Credit Card, which was named Best Co-Branded Credit Card in 2015 at The Banker ME Products Awards by CPI Financial.

Paul Trowbridge, CEO of UAB, said: “Everyone at UAB extends our hearty congratulations to the players, coaches and fans of FC Barcelona for their remarkable successes this season. FC Barcelona enjoys extraordinary popularity amongst football fans in the UAE, and boasts more than half a million members in its UAE fan club. Its performances have embodied many of the qualities we most aspire to at the Bank: dedication, innovation, outstanding teamwork, and individual flair. We look forward to sending many more of our colleagues and customers to Spain to enjoy the Camp Nou experience in person”.

28 May 2015 UAB named Best Retail Bank in the UAE and Most Innovative SME Bank at Banker Middle East Industry Awards

May 28 2015, Sharjah, UAE: United Arab Bank (“UAB”)picked up two coveted awards at The Banker Middle East Industry Awards 2015, being named Best Retail Bank in the UAE and Most Innovative SME Bank. This recognition comes after the Bank acquired a trio of accolades from Banker ME in March, winning Best Loyalty Program for 'UAB Rewards’, Best Premium Credit Card for ‘UAB Visa Infinite’, and Best Co-Branded Credit Card for ‘UAB FC Barcelona’.

The annual awards ceremony, organised by publisher CPI Financial, celebrates the best of the regional banking industry, from more than 200 financial institutions. The winners of the awards are chosen by registered users of Banker Middle East, Islamic Business & Finance, FinanceME, WEALTH Arabia magazines, and users of CPI Financial, which include a number of the region's top financial services professionals. Bringing in thousands of votes, these awards are widely seen as some of the most sought after in the industry.

In response to receiving the two accolades, Paul Trowbridge, CEO of United Arab Bank, said: “These awards are testament to the quality of our product offering and our entire team; we are thrilled that voters have assessed UAB’s Retail and SME services as best-in-class in the UAE. It’s a sign of the progress we have made as UAB enters its fifth decade. Our priority now is to continue to build upon the Bank’s robust growth and cement strong, long-term personal relationships with our customers.

29 Apr 2015Founding member Awni Al Alami retires after 40 years at UAB

June 13 2015, Sharjah, UAE: Mr Awni Al Alami, Deputy Chief Executive Officer and a founding executive staff member of United Arab Bank (“UAB”) has announced his retirement after 40 years at the Bank.

Mr Al Alami said: “I am proud of the Bank’s development over the past four decades, a journey which has been challenging and ultimately very rewarding. I look forward to seeing UAB’s continued success as it enters the next phase in its evolution.”

Paul Trowbridge, CEO of UAB, said: “On behalf of everyone at UAB, I would like to thank Mr Al Alami for the pivotal role he has had in the Bank’s journey over the last 40 years. He has been instrumental in helping to shape UAB’s strategy and drive its growth, while ensuring the Bank remains true to the traditional values he helped instil right from the start. We wish him all the best in his retirement”.

29 Apr 2015Team Members Celebrate United Arab Bank’s 40th Anniversary

April 29 2015, Sharjah, UAE: United Arab Bank (“UAB”) held a special edition of its annual party for employees on Friday, 24 April, as part of the bank’s celebrations marking the 40th anniversary since its inception in 1975.

Held at Atlantis – the Palm, the party saw awards conferred to outstanding members of the UAB team, including the ‘Emirati of the Year’, ‘Expat of the Year’, the latest quarterly awards, and long service accolades.

The ceremony was attended by Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, the founder and chairman of UAB, who delivered a speech congratulating and thanking employees for reaching the momentous milestone.

Paul Trowbridge, the CEO of UAB, gave an address at the party which reflected upon the history of UAB over the past four decades. “UAB has always held dear the ethos that defined its humble beginnings: an intimate knowledge of local markets and a distinctly Emirati flavour. But at the same time, it has helped transform the way individuals and companies all over the UAE do banking”, he said.

April 28 2015, Sharjah, UAE:On Monday, 27 April 2015, the Extraordinary General Assembly (“EGA”) of United Arab Bank P.J.S.C. (“UAB” or the “Bank”) passed, at its session held at 5:00 PM at the Coral Beach Resort in Sharjah, UAE, an amendment to the Articles of Association (“AOA”) of the Bank.

The Shareholders agreed to the Board of Directors’ proposal to approve the amendment to the AOA of the Bank, specifically Article 30.1 on the Board of Directors with the aim of reducing the number of directors from twelve to nine, subject to the regulatory approval of the Central Bank of the UAE.

The Shareholders had confirmed and ratified the election of the Board of Directors of the Bank at the Annual General Assembly held on 3 March 2015, and authorised the Chairman of the Board of Directors to sign and undertake all necessary measures to give effect to the EGA’s resolutions.

The EGA was chaired by H.E. Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of the Board of Directors, and was attended by Members of the Board of Directors and Paul Trowbridge, Chief Executive Officer of UAB, as well as other senior management. The External Auditors (KPMG) and representatives of the regulatory authorities were also present.

22 Apr 2015UAB announces its Financial Results for the three months ended 31 March 2015

Highlights vs. Q1 2014

Operating Profit up 10% to AED246m

Total Income improved 8% to AED352m

Net Profit stable at AED161m

Customer Deposits grew 12% to AED18.3bn

Customer Loans and Advances increased 6% to AED18.3bn

Total Assets up 12% to AED26.5bn

April 22 2015, Sharjah, UAE:United Arab Bank P.J.S.C ("UAB" or "the Bank") announces its Financial Results for the three months ended 31 March 2015.UAB reports a Net Profit of AED161m for Q1 2015, in line with performance in Q1 2014.

Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of the Board of Directors, said, “I am pleased to report a Net Profit of AED161m in Q1 2015. This year marks a truly historic milestone for UAB as its sees the Bank celebrate its 40th anniversary following its inception in 1975. During these 40 years the Bank has experienced numerous changes as it has evolved, yet we have ensured throughout our journey customers have consistently remained at the heart of the business”.

Mr Paul Trowbridge, Chief Executive Officercommented, “UAB has ended the first quarter of 2015 with a strong set of financial results demonstrated by tangible growth across Operating Profit, Total Income and Total Assets. The Bank’s customer-centric strategy remains firmly on track, with both Customer Loans and Deposits continuing to grow despite the increasingly competitive environment.

Our products and services continue to be independently recognised as the best of their kind and given the quality of our propositions and continued expansion of our branch footprint and other alternative delivery channels, we embark on our fifth decade with an outstanding platform to build upon for the future.”

You will not need to change your cheque book, credit or debit card(s).

All standing or other special instructions on your account(s) for the time being will remain valid.

Your salary transfer and/or end of service benefit arrangements, if applicable, will remain unchanged.

Whilst your home branch will shift to our Ajman Branch located near GMC Hospital, New Ajman Souk, Sharjah–RAK Road, you may nonetheless use any of our 30 other branch locations across the UAE should you require to visit a branch.

We apologise for the fact that closure of our Fujairah branch may cause some inconvenience but are confident we will be able to continue serving your banking needs in the months and years ahead. We are grateful for your business and banking with us.

Thank you for your understanding. Please feel free to contact us on 800 474 at any time should you have questions or concerns.

Yours sincerely,

Tony B Graham Executive Vice President, Retail Banking

We encourage you to call 800 474 or use our internet banking service at www.uab.ae for your day to day account management.

February 21 2015, Sharjah, UAE: United Arab Bank is delighted to announce the winners of its treasure hunt – held on 21st February 2015 at the UAB Business Bay Tower Building site, the bank’s future Dubai Regional Office – to celebrate the bank’s 40th anniversary serving customers across the UAE.

The successful event was attended by over 250 employees and selected invitees from across the country and all were joined by UAB’s senior management team, led by Chief Executive Officer Paul Trowbridge, whereby a total of 100 lucky winners successfully competed for prizes in the treasure hunt.

The grand prizes – two annual home rents up to a value of AED 200,000 in total were won by Jennifer Hope Merlino, an American - Italian and Kathlyn May Sulleza a Filipino. The second prizes – three school tuition fees, up to AED 135,000 in total went to three participants- Ratnesh Mehta from India , Lionel Williams from United States of America, and Puneet Pradeep from India.

Jennifer Hope Merlino, one of the winners of the grand prize, said: “I am ecstatic to have won AED 100,000. Thanks to this generous prize by United Arab Bank I’m now able to bring my eleven year old son, Jayson, to Dubai, support his tuition fees, and acquire a house where we can all live. UAB has changed my life.”

14 Mar 2015UAB wins Best Loyalty Program, Best Premium Credit Card and Best Co-Branded Credit Card at the Banker Middle East Awards 2015

March 14 2015, Sharjah, UAE:United Arab Bank P.J.S.C. (‘UAB’),has received a trio of coveted awards from the Banker Middle East magazine, winning Best Loyalty Program for 'UAB Rewards’, Best Premium Credit Card for ‘UAB Visa Infinite’, and Best Co-Branded Credit Card for ‘UAB FC Barcelona’.

Ranking among the most prestigious honours in the industry, the Banker Middle East Awards 2015 were adjudicated by 17,000 individual voters, casting 80,000 votes in total. UAB picked up the three accolades in competition with 35 participating banks.

Commenting on the award, Paul Trowbridge, CEO of United Arab Bank said: “We feel privileged and are very proud that UAB continues to be recognised by our customers in the UAE. It is testament to the creativity of the UAB team who continue to improve our products and retain our best-in-class status year after year. As UAB marks its 40th anniversary in the UAE, we’ve reaffirmed our commitment to provide outstanding service and compelling propositions to our customers.”

Tony Graham, Executive Vice President of Retail Banking, added: “We’re honoured to win these awards. Our Visa Infinite card offers unparalleled value and the FC Barcelona cards symbolize our aspirations for continued growth. Together with our market leading UAB Rewards loyalty program, these propositions demonstrate that United Arab Bank is the best bank to transfer your salary.”

03 Mar 2015UAB’s Annual General Meeting approves 2014 Annual Accounts, Distribution of Cash and Scrip Dividends and elects Board of Directors for a term of 3 Years

March 3 2015, Sharjah, UAE:United Arab Bank P.J.S.C. (‘UAB’),held its 41st Annual General Meeting (AGM) on Tuesday 3 March 2015, at the Coral Beach Resort in Sharjah. Overseen by H.E. Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of the Board of Directors, the AGM adopted the consolidated financial statements for the year ended 31 December 2014.

The AGM resolved on the distribution of a cash dividend of AED 114.6 million (being 10% of paid up share capital) and a scrip dividend of AED 229.2 million (being 20% of the paid up share capital) from the record annual Net Profit of AED 605 million, which represented a 10% increase over 2013’s Net Profit of AED 552 million. The record date for the entitlement to the dividend was set as Sunday, 15 March 2015 and the last date to participate is on 11 March 2015. The dividend is estimated to be paid out to shareholders on Tuesday, 24 March 2015.

The dividend will be distributed in accordance with new Abu Dhabi Securities Exchange (ADX) instructions. Exceptionally, the 2014 cash dividend will be distributed by cheque. However, in line with ADX instructions, the 2015 cash dividend will be deposited directly to the investors designated bank account only. Therefore, all shareholders are required to provide their bank account details (IBAN) to ADX directly or via their brokerage firms at their earliest opportunity. For more information shareholders are encouraged to contact ADX on 800239.

11 Feb 2015United Arab Bank to participate in 17th National Career Exhibition at the Sharjah Expo as the UAE banking industry’s leader in Emiratisation

February 11 2015, Sharjah, UAE:United Arab Bank (‘UAB’),is set to participate in the 2015 National Career Exhibition at the Sharjah Expo for the 17th consecutive year.The Exhibition – an integral part of the UAE’s drive to promote and support Emirati nationals in the labour market – will be held from February 11-13 at Expo Centre Sharjah.

UAB has distinguished itself as an industry leader in providing opportunities to talented Emiratis, achieving 45 per cent Emiratisation last year – a record among UAE banks. In addition, the bank has expanded to 31 branches to date across the country, whilst maintaining 100 per cent Emiratisation of the Branch Manager positions. UAB intends to increase its network of branches to 35 by the end of this year.

In recognition of its efforts for the development of the Emirati community, the Bank has won the prestigious Human Resources Development Award in the Banking and Financial Sector in the Year 2014, presented at the 17th National Career Fair Exhibition. The award was presented by H.H. Sheikh Dr. Sultan Bin Muhammad Al Qassimi, Member of the Supreme Council, and Ruler of Sharjah. This is the second time UAB has received this award, having been recognised in 2012.

Jan 21 2015, Sharjah, UAE:United Arab Bank P.J.S.C ("UAB" or "the Bank") announces its Financial Results for the year ended 31 December 2014.

UAB has announced a full year Net Profit of AED605m, an increase of 10% over 2013. This performance represents the highest ever annual Net Profit for the bank, building on the ongoing success and momentum UAB has generated in recent years. Accordingly, the Directors propose that a cash dividend of 10% of the Paid up Capital is paid in 2015 amounting to AED114.6m, along with a scrip dividend of 20% of the Paid up Capital amounting to AED229.2m, subject to the approval of the UAE Central Bank and the General Assembly.

Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of the Board of Directors said, “I am honoured to report a record Net Profit in 2014. Across the year we continued to make substantial progress on our journey to become a more efficient retail and commercial bank, whilst remaining true to our traditional values. UAB was, is and will always be, a bank focused on customers’needs and building lasting relationships”.

January 19 2015, Sharjah, UAE:United Arab Bank (UAB) has made a contribution of AED 250,000 to Al Thiqah Club for the Handicapped, another milestone in the Bank’s long-standing relationship with an organisation that provides invaluable support for people with special needs in the UAE.

At a ceremony held on 18th January 2015, UAB’s Chief Executive Officer, Paul Trowbridge, and Deputy Chief Executive Officer, Awni Al Alami, presented a cheque to a delegation from the Al Thiqah Club for the Handicapped, led by the organisation’s Chairman, HE Tariq Sultan Bin Khadim.

UAB has been making an annual contribution to the Al Thiqah Club for the Handicapped since 2003, as well as supporting and recruiting citizens with special needs. The Bank is the exclusive sponsor of the Club’s program training sessions – with the sole objective of inducting special-needs citizens into the local community – and also employs a number of its special needs students.

12 Jan 2015United Arab Bank Opens New Branch in Jumeirah

January 12 2015, Sharjah, UAE:United Arab Bank (‘UAB’) has announced the opening of its 12th branch in Dubai on Jumeirah Beach Road, extending its branch network to 31 locations across the UAE. The new branch was formally opened by Tony B. Graham, EVP – Retail Banking, and Yusra Al Baqi, SVP – Retail Branch Management.

Located in one of the busiest and most dynamic areas of Dubai, the new branch is situated at the heart of Jumeirah, across the road from Sunset Mall, with easy access and ample customer parking. The branch marks the fourth to have been opened by UAB in the past month.

Tony B. Graham, EVP – Retail Banking said: “This is a prime location branch in one of Dubai’s most established and most prestigious areas and will help us better serve our growing customer base. It’s consistent with our strategy of growing the capabilities of all our channels – branches as well as telephony and online – to serve our customers as they want to be served, on their terms.”

13 Dec 2014United Arab Bank opens three new branches in Dubai

December 13 2014, Sharjah, UAE:United Arab Bank (‘UAB’), the fastest growing banking in the Middle East, has opened three new branches in Dubai, bringing its total number of branches in the UAE to 30.

A ribbon cutting ceremony – led by UAB’s Tony B. Graham, EVP - Retail Banking, and Yusra Al Baqi, SVP – Retail Branch Management - was held to inaugurate each of the new branches: the Business Bay branch, at the Executive Towers; the Media City branch at Concord Tower; and the TECOM branch, located in the Grosvenor Business Tower. The launches are part of UAB’s drive to expand its footprint in Dubai and to provide further improve accessibility of service to customers in the emirate.

Paul Trowbridge, Chief Executive Officer at UAB said: “In our pursuit of expanding our local reach, United Arab Bank will keep growing its bricks-and-mortar branch network across the UAE. The Bank’s strategy of prudent and ambitious growth in service delivery infrastructure continues to yield robust results. We strive to provide accessibility and convenience to our growing customer base and we will continue to open traditional high street banking branches in vital commercial and residential areas to cater our customers’ needs with best in class products”.

November 1 2014, Sharjah, UAE:United Arab Bank (‘UAB’), the fastest growing bank in the Middle East, is implementing a number of new HR initiatives to step up support for its industry-leading Emiratisation efforts – including launching a training and career development program called “Reyadah.”

The Reyadah program will focus on developing the bank’s future leaders with a target of Emiratis comprising 25% of UAB’s most senior 50 employees by 2020. The objective of the program is to assess, identify and develop UAE Nationals that exhibit outstanding talent, and provide them the opportunities they need to meet their aspirations and thrive at the highest levels.

UAB’s Emiratisation ratio currently stands at 44% – the highest in the financial sector –after implementing a multiplicity of recent initiatives to encourage Emirati employees. The bank continues to attract, retain and continuously advance the skills of local talent to support its rapid business growth – operating income soared almost 36 per cent over the course of 2013.

October 22 2014, Sharjah, UAE:United Arab Bank P.J.S.C ("UAB" or "the Bank") announces its Financial Results for the nine months ended 30 September 2014. UAB, recently recognized as the fastest growing bank in the region, announces a net profit of AED498m for Q3 2014, an increase of 20% over the same period in 2013.

Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of the Board of Directors said, “United Arab Bank continues to impress, with Q3 2014 results reconfirming the solid foundations of the bank’s business model. At UAB, we strive to continually grow in this highly competitive market, as evidenced through our recent recognition as the fastest growing bank in the Middle East.”

Mr Paul Trowbridge, Chief Executive Officer commented on the Bank’s Q3 results, “I am pleased to report continuous income and profit growth in Q3 2014 in comparison to prior year. UAB’s growth trajectoryremains on track, whilst adhering to our customer centric-strategy. Our strong momentum is driven from sustained improvement in business mix and efficiency of our funding which has ultimately led to significant increases in our Customer Deposits and Loans & Advances Portfolios.

September 29 2014, Sharjah, UAE:United Arab Bank (‘UAB’), the fastest growing bank in the Middle East, is set once again to be the sole official banking partner of GITEX Shopper this Autumn – the region’s largest and much-anticipated consumer electronics retail platform, showcasing a multitude of world-class brands.

The Autumn edition of GITEX will take place from September 27th to October 4th at Dubai World Trade Centre. Over this period, UAB has lined up exciting offers for both existing and new customers.

All purchases made using UAB debit or credit cards will be awarded double UAB Rewards points at participating retailers – an offer which extends across all their UAE outlets over the period. UAB Rewards is widely recognised as the region’s number one rewards scheme, winning the award for ‘best customer loyalty program’ from Banker Middle East in both 2013 and 2014.

June 17 2014, Sharjah, UAE: United Arab Bank (‘UAB’), the fastest growing bank in the Middle East, has signed an exclusive 5-year agreement with global insurer Zurich to market and distribute its general insurance products to its customers in the United Arab Emirates.

UAB is offering Zurich’s market-leading Motor, Home, Life and Travel insurance cover, with further specialist insurance propositions, including Personal Accident, to follow shortly.

In line with UAB’s commitment to offer convenience with a range of solutions that complement its banking solutions, Zurich’s insurance products will be extended to UAB customers throughout its expanding network of branches across the UAE. UAB’s Relationship Managers will be able to instantly provide quotes and issue policies on-the-spot through an online application. In addition, UAB’s customers will also be provided with a dedicated toll-free number to request quotes, purchase insurance cover and process claims directly with Zurich’s contact center.

01 Jul 2014UAB Signs US$100 Million Murabaha Syndication Deal

July 1 2014, Sharjah, UAE: United Arab Bank (UAB), the fastest growing bank in the Middle East, has announced the completion of a 3-year syndicated Murabaha facility worth US$100m with four banks based in the UAE, Bahrain, and Kuwait. The Murabaha deal is the first Islamic syndication completed by UAB.

Al Hilal Bank, headquartered in the UAE, served as the Mandated Lead Arranger and Bookrunner for the deal, while the Arab Banking Corporation, headquartered in Bahrain and Sharjah Islamic Bank, were the other Mandated Lead Arrangers. The National Bank of Kuwait also served as a Lead Arranger.

The syndicated Murabaha facility which has been taken out for general corporate purposes, was almost twice oversubscribed. The appetite of banks across the region to participate in this club deal underlines UAB’s exceptional recent financial performance. The bank sustained the pace of a record-breaking 35 per cent surge in net profits over the course of 2013 with a 34 per cent year-on-year profit rise in the first quarter of 2014.

Sharjah, UAE (July 1, 2014):United Arab Bank (UAB), the fastest growing bank in the Middle East, has announced the launch of a new Balance Transfer promotion that offers customers the opportunity to fly for free through its award-winning rewards loyalty program – UAB Rewards.

The programme, which will runs from now till 30th September 2014, entitles customers to one UAB Reward or one Barca Reward point for every dirham they transfer to a UAB credit card – which can be redeemed online for tickets on over 900 airlines, 200,000 hotels worldwide, 150 global rent a car destinations, over 2,000 electronic and lifestyle items. Barca points can also be additionally redeemed for official FC Barcelona club merchandise. Moreover, customers will enjoy an interest-free period for six months when they transfer their balance. This offer is valid against any card approved by the bank and customers can make multiple balance transfers to different cards.

Tony B. Graham, Executive Vice President - Retail Banking, said: “This incredible offer allows our customers to gain even more out of our award-winning UAB Rewards loyalty programme and our unique partnership with one of the world‟s most famous football clubs. Clients who transfer their credit balance to UAB will be able to enjoy a break from credit card charges for six months, and benefit from the industry leading lifestyle and travel benefits that our credit cards confer.”

20 Jun 2014UAB announces its Financial Results for the six months ended 30 June 2014

Highlights vs. June 2013

Operating Profit up 43% to AED475m

Total Income up 41% to AED676m

Customer Loans and Advances increased by 35% to AED17.9bn

Customer Deposits recorded growth of 49% to AED18.6bn

July 20 2014, Sharjah, UAE: United Arab Bank P.J.S.C ("UAB" or "the Bank") announces its Financial Results for the six months ended 30 June 2014.

UAB, recently recognized as the fastest growing bank in the region, announces a net profit of AED328m for the first six months of the year, an increase of 26% over H1 2013.

Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of the Board of Directors said, “I am pleased with the strong performance generated by United Arab Bank this first half of 2014. The Bank continues to deliver exceptional performance and sustained growth, offering true value to our customers, shareholders and partners. It has maintained an impressive pace of growth in a highly competitive market, once again positioning itself as the fastest growing bank in the Middle East. We are well placed to take advantage of future growth opportunities across the Emirates and continue to benefit tremendously from the solid platform created by the banking alliance that we share with The Commercial Bank of Qatar (CBQ), National Bank of Oman (NBO) and Alternatifbank in Turkey.”

Mr Paul Trowbridge, Chief Executive Officer commented on the Bank’s half year results, “It is my pleasure to report a strong set of half-yearly financial results. Our exceptional growth over the same period in 2013 is testament to the effectiveness of our customer-centric strategy. The improving business mix and efficiency of our funding have led to a significant increase in Loans & Advances and Customer Deposits. These increased volumes are a direct result of our proactive enhancements and continued efforts to identify and develop new income drivers. With this outstanding performance, we are set to take advantage of the positive economic outlook for the UAE and the region”.

June 7 2014, Sharjah, UAE:United Arab Bank (‘UAB’), the fastest growing bank in the Middle East, has reinforced its award-winning status by picking up a duo of accolades at CPI Financial’s Banker Middle East Industry Awards for 2014.

UAB has reaffirmed its leading position by being named both ‘Fastest Growing Bank in the Middle East’ and ‘Fastest Growing Bank in the UAE’, on the back of a 35 per cent surge in net profits over 2013.

Receiving the awards, Paul Trowbridge, CEO of United Arab Bank said: “I am very proud of UAB’s performance over the last year. The bank is focussed on delivering continued, sustainable growth: the strength of our core business has established a solid and sustainable platform to support innovation and future expansion plans. We would emphasise that providing premium service levels is at the heart of our strategy, something we are very grateful that our customers and the industry are recognising.”

03 Jun 2014Fly Home for Free this Summer with United Arab Bank’s 5-in-1 offer

June 3 2014, Sharjah, UAE:United Arab Bank (‘UAB’), the fastest growing bank in the Middle East, has launched a summer promotion on personal loans, running until July 31. In the 5-in-1 promotion, customers can avail of personal loans starting at a low rate of 4.88%, while also enjoying free flights, free credit card, free travel insurance with no processing fees.

Customers availing of a personal loan and transferring their salaries to United Arab Bank will receive up to 60,000 UAB Rewards points with the bank’s signature loyalty programme, redeemable against airline tickets.

10 May 2014UAB Establishes Exclusive Retail Banking Partnership with Abu Dhabi’s The Club

May 10 2014, Sharjah, UAE:United Arab Bank, the fastest growing bank in the Middle East, has agreed to be the exclusive retail banking partner of The Club, one of Abu Dhabi‟s most successful and long-established Private Members Club. UAB is sponsoring the leisure club‟s newly inaugurated Al Nadi Tower, erected to mark its 50th anniversary in 2012.

As part of the three-year partnership, UAB will install and operate ATMs at The Club – extending its commitment to provide customers with convenient access to cash through its ATM network – in addition to a customer service desk at the leisure club‟s Health Complex, to carry out a range of services.

23 Apr 2014Net Profit of AED161m For the Three Months Ended 31 March 2014

Highlights vs. Q1 2013

Net Profit up 34% to AED161m

Operating Profit up 44% to AED223m

Total Income up 45% to AED327m

Earnings per Share up 34% to AED 0.141

Customer Loans and Advances increased by 47% to AED17.2bn

Customer Deposits recorded growth of 46% to AED16.4bn

April 23 2014, Sharjah, UAE:United Arab Bank P.J.S.C ("UAB" or "the bank") announces its Financial Results for the three months ended 31 March 2014.

UAB, one of the fastest-growing banks in the region, announces a net profit of AED161m, for the first three months of the year, an increase of 34% over the same period in 2013.

Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of the Board of Directors said, “The Bank’s exceptional performance in 2013 has continued into the first quarter of 2014, reaffirming its position as the fastest growing bank in the Middle East. UAB’s sustained growth and momentum of recent years continues, strengthening our position in a highly competitive market. As we continue to gain traction, we are confident of our ability to deliver solid results and offer true value to customers, shareholders and partners.”

Mr Paul Trowbridge, Chief Executive Officer commented on the Bank’s quarterly results, “We continue to go from strength to strength as is evident from our performance in the first quarter of 2014, following the Bank’s strong 2013 results. Our Loans & Advances have significantly increased and so have our Customer Deposits, indicating our customer-centric approach as one of the main reasons we continue to perform outstandingly well. In addition, our focus continues to be on identifying and developing new income drivers, with success demonstrated by growth across all key income metrics.”

April 19 2014, Sharjah, UAE:United Arab Bank (‘UAB’), the fastest growing bank in the Middle East, is the sole official banking partner of the next two editions of GITEX Shopper the region’s largest and much -anticipated consumer electronics retail platform in the Middle East with power retailers and world class brands.

From 23-26 April, the spring edition of GITEX Shopper will take place at the Dubai World Trade Centre. During this period, UAB is offering double UAB Rewards points on purchases made using UAB debit or credit cards, adding to the benefits of an already award-winning loyalty scheme. Furthermore, the offer will also be extended to participating outlets of exhibitors during GITEX Shopper.

31 Mar 2014UAB Partners with Just Wills to Offer Clients First of its Kind Conventional & Shari’ah-compliant Will-writing and Registration Service in the UAE

March 31 2014, Sharjah, UAE:United Arab Bank, the fastest growing bank in the Middle East, has partnered with Just Wills to launch a new end-to-end will-writing and registration service – the first of its kind relationship in the UAE and the only service to offer wills designed in accordance with Shari’ah law.

The new end-to-end offering includes notarization, which has been approved by the courts and registered with the Ruler’s Court of Dubai. UAB will offer the service under Sadara Privileged Banking – part of the bank’s Retail Banking division – which offers premium banking and Wealth Management services to customers.

26 Mar 2014UAB Extends Support to Al Thiqah Club for the Handicapped

March 26 2014, Sharjah, UAE:United Arab Bank (‘UAB’), the fastest growing bank in the Middle East, continues to grow at an unparalleled rate in the UAE and giving back to the local community remains a top priority. As part of its corporate social responsibility, UAB has established a strong partnership with Al Thiqah Club for the Handicapped, an organisation that provides invaluable support for people with special needs in the UAE.

Recently UAB provided a contribution of AED 250,000 to the club to support its activities related to the welfare and development of the handicapped. This was followed by a visit to UAB’s corporate headquarters by a delegation from Al Thiqah Club for the Handicapped to show their appreciation for the bank’s support. The delegation included HE Tariq Sultan Bin Khadim, Chairman of Al Thiqah Club for the Handicapped, Humaid Al Abar,Vice-Chairman of the club and Haider Talib Erabeh, GM of Al Thiqah Projects.

March 23 2014, Sharjah, UAE: United Arab Bank (‘UAB’), the fastest growing bank in the Middle East, has won two prestigious awards from the Banker Middle East magazine. UAB emerged as winners of the ‘Best Customer Loyalty Program’ for the second year in a row for its ‘UAB Rewards program’ in addition to ‘Best Premium Card’ for ‘UAB Visa Infinite’.

The Banker Middle East UAE Product Awards 2014 is one of the most prestigious awards in the banking industry in the region. Winners were selected following 5 weeks of voting, which saw more than 12,000 unique participants choose from over 186 closely contested financial products in the United Arab Emirates across 38 categories.

United Arab Emirates, 17 March 2014 -Salary Protector Account was a complimentary service provided by United Arab Bank for salary transfer customers who were enrolled in the service. Premiums for the benefits under the Salary Protector Account were paid for by United Arab Bank and were offered free of charge to enrolled customers. Please note that, with effect from 1 August 2013, the Salary Protector Account and all related benefits are cancelled and are no longer offered by United Arab Bank. All customers are hereby notified of the same and should make alternative insurance arrangements should they require protection against the risks previously covered. These included involuntary loss of employment, death and permanent total disability. In light of the cancellation of Salary Protector Account, coverage is revoked and claims will no longer be entertained after 1 August 2013.

United Arab Emirates, 5 March 2014 -United Arab Bank P.J.S.C. ("UAB") confirms that the Central Bank has approved a cash dividend of AED 149.5 million (being 15% of the paid up share capital) and a scrip dividend of AED 149.5 million (being 15% of the paid up share capital). This is as per the proposal of the bank's Annual General Assembly (AGA) which was held on Monday, 3 March 2014 and chaired by H.E. Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of the Board of Directors. The record date for the entitlement to the dividend was set as Thursday, 13 March 2014. The dividend cheques will be sent to shareholders by registered post within 30 days from the AGA date, in accordance with the local applicable laws.

United Arab Emirates, 3 March 2014 -United Arab Bank P.J.S.C. ("UAB"), successfully held its 40th Annual General Assembly (AGA) and an Extraordinary General Assembly (EGA) on Monday, 3 March 2014, at the Coral Beach Resort in Sharjah. Chaired by H.E. Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of the Board of Directors, the AGA adopted the consolidated financial statements for the year ended 31 December 2013, the distribution of cash dividend and bonus shares, and re-appointed KPMG as the external auditors of the Bank for 2014. The AGA was followed by an EGA meeting which approved the amendment of the Articles of Association of the Bank, subject to the approval of the Central Bank.

The AGA approved a cash dividend of AED 149.5 million (being 15% of the paid up share capital) and a scrip dividend of AED 149.5 million (being 15% of the paid up share capital). This was considered to be in the best interests of the Bank and its shareholders but is subject to obtaining the final approval of the Central Bank, by no later than Sunday, 9 March 2014. Should the Central Bank approval not be obtained, then a lower distribution of 15.06% of the Bank's paid up capital as cash dividend amounting to AED 150 million, and 10% of the Bank's paid-up capital as bonus shares, amounting to AED 99.6 million, will be paid according to a pre-approved amount by the Central Bank. The final dividend proposal and the full set of the financial statements will be disclosed following the Central Bank's approval.

The record date for the entitlement to the dividend was set as Thursday, 13 March 2014. The dividend cheques will be sent to shareholders by registered post within 30 days from the AGA date, in accordance with the local applicable laws.

19 Feb 2014UAB to showcase new initiatives in renewed Emiratisation drive at the 16th National Career Exhibition at the Sharjah Expo

United Arab Emirates, 19 February 2014 -United Arab Bank, the fastest growing bank in the Middle East, today announced that Yusra Abdul Ghaffar, Senior Vice President in Retail Branch Management, has been named the "Distinguished Woman in the Banking and Finance Sector" by the Emirates Institute for Banking and Financial Studies.

The prestigious annual award, which selects one woman in the banking sector on the basis of outstanding career achievements, was presented by His Highness Sheikh Abdullah Bin Salem Al Qassimi, Deputy Ruler of Sharjah, during the 16th National Career Exhibition at the Sharjah Expo.

During her 15 year career in banking, Yusra has served in many positions across the business spectrum, including customer services, products marketing, asset sales, operations, policy making, strategic planning, branch banking and channels management. With an MBA in Marketing Financial Services from the UK, she has previously held the post of Head of Women in Private Banking, Head of Islamic Banking, and Head of Wealth Management. She is currently UAB's Head of Branches.

Yusra has been involved in the development of a number of unique banking products to serve customer needs. In just over a year, since joining United Arab Bank, she has opened 10 branches in Sharjah, Dubai and Abu Dhabi and plans to expand this network of branches further over the next three years.

United Arab Emirates, 3 February 2014 -An online trade portal recently launched by United Arab Bank, the fastest growing bank in the Middle East, will transform the ease and speed with which corporate customers can complete an array of trade finance transactions.

UAB Trade Portal provides a reliable, fast and secure gateway for UAB customers to create, track and report their organizations' transactions. The interactive, web-based platform also offers a range of convenient reporting features, with an intuitive, user friendly interface that is available 24 x 7.

The portal enables corporate customers to seamlessly initiate products online in a fully secure environment, such as commercial and standby letters of credit, shipping and bankers guarantees, and financial requests. Electronic reports and statements allow for transactions to be monitored and amended remotely, without the need to visit a bank branch.

The new service will further augment UAB's award-winning trade finance offering. UAB was adjudged 'Best Trade Finance Bank UAE, 2013' by the UK's International Finance Magazine at a recent award ceremony in Dubai, where it also won 'Best Home Finance Provider'. In recent years the bank has won several more accolades recognising the quality of its services to corporates and SMEs.

Jan 22 2014, Sharjah, UAE:United Arab Bank P.J.S.C ("UAB" or "the bank") announces its Financial Results for the year ended 31 December 2013.

UAB, the fastest growing bank in the Middle East, has announced full year 2013 Net Profits of AED552m, an exceptional increase of 35% over 2012. This impressive performance represents the highest ever annual Net Profits for the bank, again emphasizing the continuing success and momentum UAB has generated in recent years.

A cash dividend of 20% of paid up capital amounting to AED 199.3m and a scrip dividend of 10% of paid up capital amounting to AED 99.6m are proposed by the directors for approval by the Bank's shareholders, subject to the prior approval of the Central Bank.

The Bank's Chairman of the Board of Directors, Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, commented: "UAB's record full year net profits and performance are testament to the bank's ability to build on the momentum of past years, achieve continued growth and generate value for our shareholders. The bank's sustained growth and strong traction in a highly competitive market can be attributed to the dynamic strategy and effective leadership that is focused on delivering to all stakeholders."

Paul Trowbridge, the bank's Chief Executive Officer, said of the year's results, "I am very pleased with our 2013 results. This strong finish to an amazing year is a clear demonstration of the consistency and discipline in the execution of our strategy. Backed by strong fundamentals and the commitment of our management team in an improving economic landscape, the bank was successful in growing the loan book and customer deposits significantly. We continue to reap the benefits of our strategic alliance with Commercial Bank of Qatar. Our associations with National Bank of Oman and Alternatifbank in Turkey have positioned us well for future growth and created opportunities for integrated services across the GCC and Turkey."

15 Jan 2014FC Barcelona Fans Win Big with United Arab Bank

Sharjah, 15 January 2014 -United Arab Bank (UAB), the fastest growing bank in the Middle East and voted the “No.1 Domestic Retail Bank in the Middle East,” recently awarded 24 lucky salary transfer customers all-expense paid trips to see FC Barcelona play live in Spain this January.

The 24 winners selected this month comprised the first group in an ongoing promotion which will run until the 3rd April 2014. During the promotion, customers who transfer their salary to United Arab Bank are automatically entered into a draw. Winners will receive flights, accommodation, transfers and hospitality, in addition to VIP match tickets.

As part of UAB’s three year partnership with FC Barcelona, the bank will send hundreds of fans to Barcelona for a once in a lifetime experience to see the world’s greatest football club play at the legendary Camp Nou stadium.

Commenting on the promotion, Tony B. Graham, Executive Vice President in Retail Banking said: “Seeing FC Barcelona play live at Camp Nou is truly an electric experience and we’re thrilled to be able to share this with our salary transfer customers. We have also recently launched the region’s first FC Barcelona co-branded credit cards which offer cardholders additional chances to win with each transaction.”

Upon being notified of winning tickets in the promotion, Artur Tsaturyan, said: “I am really excited to have won. I always watch FC Barcelona’s matches at home but it is a dream come true to be able to watch them play at Camp Nou. It will be a rare experience and I still can’t believe it.”

Another winner, Muhammad Fareed said: “I’m so happy that United Arab Bank gave me this opportunity to see Barcelona, the world’s greatest football club, play in Camp Nou.”

The FC Barcelona co-branded Visa Signature and Visa Platinum credit cards, as well as the Visa Platinum debit cards, were recently launched. The cards are linked with exclusive “Barca Rewards”, which allow customers to earn points to redeem for official club merchandise, along with “UAB Rewards” points, redeemable with over 900 airlines, 200,000 hotels and for thousands of electronic items.

Sharjah, 30 December 2013 -United Arab Bank (UAB), the fastest growing bank in the Middle East, has been recognized for its achievements with two prestigious industry accolades from International Finance Magazine of the UK. United Arab Bank took ‘Best Home Finance Provider ‘and ‘Best Trade Finance Bank’ awards at the gala event held recently in Dubai.

Commenting on the accolades, Paul Trowbridge, CEO of United Arab Bank said, “These awards are an affirmation of the success of UAB’s strategic initiatives and its fundamental strengths. We are committed to achieving excellence in everything we do to be able to meet the growing demands of our customers and stakeholders. United Arab Bank played a pivotal role in reviving the real estate sector by reigniting the demand for home finance and making available more affordable solutions for borrowers in a difficult economic scenario. We pioneered the competitively-priced home financing products and continued to lead even when our peers followed.”

“Receiving the award as the Best Trade Finance Bank is testament to the seamless and standardized trade services to our corporate and SME customers in an efficient and timely manner. We provide our customers with access to facilities that enable their transactions to be carried out easily and from the convenience of their office. We have won a number of prestigious accolades for our exceptional Trade Finance offering – this award confirms our continuous efforts to remain competitive via our product propositions,” continued Trowbridge.

Howard Kitson, Executive Vice President - Wholesale & International Banking and Tony B. Graham, Executive Vice President – Retail Banking received the awards for ‘Best Trade Finance Bank’ and ‘Best Home Finance Provider,’ respectively, on behalf of the bank.

Among its unique initiatives United Arab Bank recently launched the region’s first FC Barcelona branded Credit and Debit cards and is sending hundreds of football enthusiasts on all-expenses-paid trips to Spain to watch FC Barcelona matches live.

Sharjah, 22 December 2013 - United Arab Bank (UAB), the fastest growing bank in the Middle East, announced the completion of a US$250 million syndicated loan. The syndicate of 12 multinational and regional banks signed a 2-year term loan facility for UAB. The facility was originally targeted to raise US$200 million, but received subscriptions of more than double this amount. The loan will be used for general corporate purposes.

In the landmark deal, National Bank of Abu Dhabi and Abu Dhabi Commercial Bank acted as Documentation and Facility Agents whilst also participating as book runners and mandated lead arrangers. Other book runners and mandated lead arrangers include Arab Banking Corporation, National Bank of Umm al Quwain, First Gulf Bank and Union National Bank. Lead arrangers participating in the facility include Commercial Bank of Dubai, Commercial Bank of Qatar, Al Khalij Commercial Bank, Standard Chartered Bank, Commerzbank and Bank of America Merrill Lynch.

Commenting on the closing of the syndicated loan, Paul Trowbridge, Chief Executive Officer, United Arab Bank, said: “I am delighted that this landmark transaction has been completed, with the support of key relationship banks, both international and local. The successful completion of this loan facility affirms United Arab Bank’s fundamental strengths and reinforces our commitment to be a key player in the UAE market. It is also testament to the confidence the banks have in us.”

United Arab Bank, currently operating with 28 branches spread across the UAE, has recently posted record Q3 results with a 39% growth in profits and stirred the UAE market with the first-of-its-kind alliance with leading football club FC Barcelona. Backed by a unique and competitive portfolio of products and a dynamic team, United Arab Bank is poised for continued growth in support of the UAE’s ambitious economic plans.

December 14 2013, Sharjah, UAE: United Arab Bank (“UAB”), the fastest growing bank in the Middle East and FC Barcelona’s “Official Partner in the UAE” has launched the region’s first FC Barcelona cards. These exclusive Visa credit and debit cards will make everyday spending more enjoyable to Barca fans by providing unique “Barca Rewards” and chances to win trips to watch the team play live in Barcelona.

FC Barcelona fans residing in the UAE will have the opportunity to sign up for any of three Barca-themed cards – the Visa Signature and Platinum credit cards, and the Visa Platinum debit card. The exclusive Visa Signature credit card, a genuine collector’s item featuring the autographs of Messi, Neymar, Xavi, Pique and Puyol, gives cardholders one chance to win an all-expense paid trip and game ticket to Barcelona with every AED 500 of spend. The Visa Platinum credit and debit cards featuring the official portraits and jersey numbers of the playing greats, offer cardholders one chance to win the trip with every AED 1,000 of spend. All FC Barcelona cards are linked with “Barca Rewards”, which will allow customers to earn points to redeem for Barça merchandise, along with over 900 airlines, 200,000 hotels and thousands of electronic items. “Barca Rewards” will be part of the award winning “UAB Rewards”, the Best Customer Loyalty program in the Middle East.

Commenting on the debut of the Barca-themed cards, Tony B Graham, Executive Vice President - Retail Banking said: “We are thrilled to offer the region’s first FC Barcelona cards to our customers and to fans of the club here in the UAE. It’s a fantastic way to show their support for the world’s greatest football club. Even better, not only Barca cardholders will earn chances with each transaction to win an all-expense paid trip to see the club play live in Spain at Camp Nou, they will also earn “Barca Reward” points, which can be also redeemed for over hundreds of Official FC Barcelona merchandise – designed especially for the true Barca fan. This is the next step in our three-year partnership with FC Barcelona which we are very proud to be a part of.”

03 Dec 2013UAB sets up dedicated desk to support UAE-Turkish business

December 3 2013, Sharjah, UAE: United Arab Bank (UAB), the fastest growing bank in the Middle East, has set up a dedicated desk to support Turkish businesses in the UAE, in a quest to become the preferred local bank for the Turkish business community in the UAE. The mutual relationship will also support UAE businesses when trading in the Turkish market.

United Arab Bank continuously strives to offer customers clear, compelling reasons to choose UAB as their bank of choice. Through the strategic alliance formed between Alternatifbank in Turkey and Commercial Bank of Qatar, a major stakeholder in both UAB and Alternatifbank, the bank will be able to serve the needs of UAE clients in Turkey in areas including investment banking, corporate banking, trade finance and mortgage financing. Furthermore, UAB will serve the banking needs of Turkish customers and companies doing business in the UAE.

Through this alliance UAB aims to tap into the ever-growing Turkish commercial banking market in the UAE and a potential retail customer base of approximately 20,000 Turkish expats, representing mainly white collar professionals benefitting from a higher income level.

17 Nov 2013Transfer Salary and Win Trip to Barcelona with United Arab Bank

Nov 17 2013, Sharjah, UAE:United Arab Bank (UAB), the fastest growing Bank in the Middle East and voted the “No.1 Domestic Retail Bank in the Middle East,” is providing customers transferring their salaries to United Arab Bank chances to win tickets to watch FC Barcelona live in action at Camp Nou in Barcelona, Spain. In the promotion, running until December 15, customers will automatically enter a draw to win the all-expenses-paid trip. Commenting on the salary transfer promotion, Tony Graham, Executive Vice President - Retail Banking said: “FC Barcelona is the world’s greatest football team and has an enormous fan base here in the UAE. Seeing them play live at the legendary Camp Nou stadium in Barcelona is truly an electric experience and we’re thrilled our partnership with the club affords us the opportunity to share this with our customers.” In addition to winning all-expenses-paid trips to Barcelona, customers will also be rewarded with UAB Reward points, the bank’s signature loyalty programme voted ‘The Best Customer Loyalty Programme in the Middle East’. Loyalty points earned can be redeemed online for tickets on over 450 airlines, 200,000 hotels worldwide and for over 1,000 electronic items.

For every AED 1,000 salary transferred, UAB customers will receive one entry into the raffle draw, with more than 20 winners to be selected. To be eligible, a minimum salary requirement of AED 20,000 applies and the last date for transfer of salary is December 15, 2013. During the 3-year partnership, United Arab Bank will reward more than 1000 customers with tickets to watch the club play live in their home camp, Camp Nou

Nov 10 2013, Sharjah, UAE:United Arab Bank (“UAB”), the fastest growing bank in the UAE, announced today that it has appointed Howard Kitson as Executive Vice President – Wholesale and International Banking. He will be responsible for the development of UAB’s international corporate banking services.

Howard has over 25 years of international banking experience and has held senior roles with global bank HSBC as well as regional banks. Prior to joining UAB, Howard was based in Qatar, as Country Head - Mashreq Bank Qatar since 2008. Earlier he was based in London as Europe Head of Wholesale Banking at Qatar National Bank from 2006 to 2008.

Howard also gained a wealth of international banking experience at HSBC where his roles included Head of European Credit Risk in London from 2003 to 2006, Head of Commercial Banking based in Lebanon 2001 to 2003 and prior to this was Regional Head of Non-Bank Financial Institutions based in Singapore from 1997 to 2001. In addition to these roles, Howard also held various International Banking roles with HSBC across many markets throughout Asia, Europe, the Americas, and the Middle East over a 10-year span until 1997.

Commenting on Howard’s appointment, Paul Trowbridge, CEO, United Arab Bank said, “We are pleased to welcome Howard to UAB and wish him the very best in his new role. UAB’s wholesale banking unit is well-positioned to capture corporate credit demand and has increasingly gained momentum over the past few years. We are confident with Howard’s wealth of experience in wholesale and international banking, he will develop the scope of business further and steer the business into even greater success – making us the bank of choice in the corporate banking space.”

The newly appointed Howard added, “I am delighted to be a part of the team at United Arab Bank. As the fastest growing bank in the UAE, the bank’s phenomenal growth over the past four years has been truly impressive and I look forward to expanding our wholesale and international banking business by extending our array of products and services to new clients and in new markets.”

Howard holds an Economics BA (Hons) from University of Liverpool, UK and completed an Executive Management Program from the University Of Western Ontario, Canada.

03 Nov 2013Enter a world of luxury with the UAB Visa Infinite Credit Card

November 3 2013, Sharjah, UAE:United Arab Bank (UAB), the fastest growing Bank in the Middle East and voted the “No.1 Domestic Retail Bank in the Middle East”, today launched its most premier card, the United Arab Bank Visa Infinite Credit Card, offering a wide array of privileges and convenience for elite customers in the UAE. The latest premium offering further demonstrates United Arab Bank’s ability to deliver outstanding value to its chosen segment of customers, across a wide range of products, services and experiences.

UAB Visa Infinite card holders will enjoy higher points with “UAB Rewards”, the bank’s one of a kind loyalty program and winner of the “Best Customer Loyalty program in Middle East”. In addition, the card offers a host of unmatched travel and lifestyle privileges such as unlimited complimentary worldwide airport lounge access, the convenience of a 24/7 worldwide Concierge service, the prestigious Black-tier Harrods rewards card, Gold membership to the Hilton Honors program, discounts at Golf courses worldwide, as well as an unbeatable cinema offer with VOX Gold cinemas in the UAE.

UAB Infinite Card holders are entitled to earn up to 3 UAB reward points on all retail spends, which is one of the highest travel based reward earnings in this market. These reward points can be redeemed online with over 450 airlines, 200,000 hotels worldwide and over 1,000 electronic items.

07 Oct 2013UAB makes football fanatics’ dreams come true

October 7 2013, Sharjah, UAE:More than 14 UAE residents recently won a lifetime opportunity to meet and watch some of the greatest legends of football at close quarters, thanks to an initiative launched by United Arab Bank (UAB), the fastest growing bank in the UAE, and FC Barcelona, one of the world’s leading football club.

For the next three years, UAB will be flying winners on all-expenses-paid trips to Barcelona, where they can watch FC Barcelona play live at the famed Camp Nou stadium. To enter into the draw, participants can register atwww.uab-football.com. In the first trip, 9 out of the 14lucky winners, whose names were selected from a raffle draw, were flown to Barcelona to experience football action featuring some of the biggest names in football history, including Lionel Messi, Neymar Da Silva, Sergio Busquets and Marc Bartra.

In addition to VIP treatment throughout the trip and a chance to meet FCB officials, the winners were also treated to an exciting faceoff between two of the biggest European clubs – FC Barcelona and Real Sociedad, at the celebrated Camp Nou stadium. The match saw FCB maintaining their consecutive successful streak in their La Liga campaign as they clashed with UEFA Champions League qualifiers Real Sociedad. FCB eventually won the thriller 4-1.

October 23 2013, Sharjah, UAE: United Arab Bank P.J.S.C ("UAB" or "the bank") announces its Financial Results for the nine months ended 30 September 2013. Building on its impressive momentum UAB, the fastest growing bank in the UAE, announces Q3 2013 Net Profits of AED414m, an impressive increase of 39% over the same period in 2012. These results represent record high quarterly Net Profits for the bank, further underlining the success of UAB's growth strategy.

The Bank's Chairman, Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, commented "UAB's growing momentum enabled the bank to generate record quarterly results. Such performance reinforces the winning strategy of the bank, where we place our clients at the heart of our approach to deliver long term value for customers, shareholders and key stakeholders alike.”

Paul Trowbridge, the bank’s Chief Executive Officer, reflected on the record results, "It’s extremely positive to see such impressive performance across all business units. We fully expect this growth trajectory to continue due to our strong fundamentals and ability to grow. Our robust strategic, operational and financial roadmap comprises a growing branch network, complementing our customer-centric approach, as well as our responsiveness to customer needs. This ensures we are competitive and well positioned to benefit from improving market conditions. These financial results underpin the proven benefits of our strategic alliance with the Commercial Bank of Qatar and we expect to play an integral part in supporting the future growth of the local economy.”

08 Sep 2013UAB seals three year alliance with FC Barcelona

September 8 2013, Sharjah, UAE: United Arab Bank (“UAB”), the fastest growing bank in the UAE, today announces its association with one of the world’s leading football clubs, FC Barcelona. The landmark alliance confirms UAB as FC Barcelona’s “Official Partner in the UAE” and places the bank as the first and exclusive financial partner of the football club in the UAE. The partnership will continue for a period of 3 years ending July 2016.

UAB, the fastest growing retail bank in the UAE with record half-year profits of AED260m, representing a 35% increase over the same period in 2012, looks to tap into the nation’s immense passion for football and reach a large number of football followers. As official partner of FC Barcelona, the bank will create a range of customized Barca-themed products and offers to delight the host of Barca fans across the UAE.

To mark the partnership and kick start the launch of a week-long promotion organized by the bank at Mirdif City Centre, a press conference was held at the venue and attended by officials from UAB and FC Barcelona. United Arab Bank was represented by Paul Trowbridge - CEO, Tony Graham - Head of Retail Banking and Sheikh Mohammed Abdulla Al Nuaimi, Executive Vice President.

September 4 2013, Sharjah, UAE:United Arab Bank (“UAB”), the fastest growing bank in the UAE, announced today that it has appointed Tony Graham as Head of Retail Banking, with immediate effect.

Tony has over 15 years’ experience as an international banker in seven countries and across 4 continents. Prior to his appointment, Tony was previously Head of Contact Centre for HSBC Canada and earlier headed the retail banking businesses for HSBC Middle East in Qatar and Lebanon. During his career with HSBC, Tony also held various roles in Ireland in addition to several Asian markets including China, Singapore and Taiwan.

Commenting on Tony’s appointment, Paul Trowbridge, CEO, United Arab Bank said, “We would like to welcome Tony to the UAB family and wish him the very best in his new role. UAB has made major strides in the retail banking segment in the UAE over the past few years especially and we are confident that with his wealth of experience in retail banking Tony will build on that success and take us a whole new level in our journey of growth.”

11 Aug 2013United Arab Bank launches mobile banking app

August 11 2013, Sharjah, UAE: United Arab Bank (UAB), the Best Domestic Retail Bank in the Middle East, as voted by the Banker Middle East Industry Awards – 2013 and the UAE’s fastest growing Retail Bank, has introduced a free mobile banking app allowing its customers to have secure and easy access and a way of managing their accounts whilst on the move and unable to visit their bank and other off-site channels.

Paul Trowbridge, Chief Executive Officer said, “The application is designed keeping in mind the high usage of smart phones in UAE and changing needs of our valued Customers. UAB's mobile application will be available on Apple, Blackberry and Android phones and it can be downloaded from Apple App Store, Blackberry App World and Google Play. As with our loyalty program, UAB Rewards, where Customers can redeem their rewards remotely, they can now also meet all their banking needs using their mobile handsets with constant access to their bank accounts only a fingertip away.”

Tom Smith, Executive Vice President & Group Head of Retail Banking said, "With the vast majority of the population in UAE having access to smart phones, it was important to introduce a service that allows them to address all their primary banking needs. We are living in a fast moving world where we have mobile applications for almost everything that we want, and at UAB, we want convenient banking for our customers anytime, anyplace, anywhere."

16 Jul 2013UAB confirms 100% Growth in 2 Years

16 July 2013, Sharjah, UAE: United Arab Bank P.J.S.C ("UAB" or "the bank") announces its Financial Results for the six months ended 30 June 2013

Building on its impressive momentum UAB, one of the fastest growing banks in the GCC, announces a Net Profit of AED260m for the first half of 2013, an impressive increase of 35% over the same period in 2012. These results reflect the highest half yearly Net Profits reported by the bank, and show the success of UAB's growth strategy.

The Bank's Chairman, Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, commented "UAB's impressive start to the year has continued, generating record half yearly results. This momentum reinforces the strategy of the bank, focusing on building long term relationships with its customers, shareholders and key stakeholders".

18 Jun 2013UAB signs a deal with Al Ansari Exchange

18 June 2013, Dubai, UAE: UAE’s fastest growing bank has announced a strategic partnership with the leading exchange company of the region – Al Ansari Exchange (AAE) as an additional payment collection arm for its credit cards. With immediate effect, UAB credit card customers can walk into any of the 120 AAE branches spread across the UAE for their credit card payments. The payments collected by Al Ansari Exchange will be treated as regular payment towards UAB credit card.

Tom Smith, Executive Vice-President & Group Head of Retail Banking, added: “We are delighted to announce a welcome addition and long overdue credit card payment option to our customers. Currently, customers can make a credit card payment through any of UAB branches or online channels. However, with this new alliance with AAE, customers will have the option of using any of their 120 conveniently located branches (including their presence in all the major shopping malls in the country) to make such payments with ease and at their convenience.”

18 Jun 2013Best Domestic Retail Bank Award 2013 by Banker Middle East

June 18 2013, Sharjah, UAE: United Arab Bank (UAB), UAE’s fastest growing bank has added another feather to its cap by winning the Best Domestic Retail Bank honour at the 2013 Banker Middle East Industry Awards. The award was received by Tom Smith, Executive Vice-President & Group Head of Retail Banking, during a ceremony held recently. The accolade is a testament to UAB’s growing Retail client base across the UAE.

This year almost 200 institutions were nominated across 55 categories and winners were chosen by the registered readers of CPI Financial products and services. Nominees were selected by a panel of financial experts who received a large number of votes from participants residing in the UAE. UAB was awarded on overall performance, its financial health, innovative products and best of services extended to its customers.

Commenting on the award Paul Trowbridge, CEO United Arab Bank, said: “The award we received today reinforces UAB's position as the fastest growing bank in the region, as demonstrated by our strong financial performance in 2012 and Q1 of 2013, which saw the net profit touch AED 120 million, another record for United Arab Bank that we expect to surpass in the coming quarters of 2013, supported by a significant contribution from the Retail business. We are now a truly local bank having catered to the UAE economy for the past 38 years and where almost half of our new customers are UAE nationals. Combining these factors with the proven benefits from the alliance with the Commercial Bank of Qatar, we expect United Arab Bank to continue on its successful journey throughout 2013 and beyond”

10 Apr 2013United Arab Bank take care of all your holiday needs

10 April 2013, Dubai, UAE:United Arab Bank (UAB), the fastest growing bank in the UAE, launches its Summer Campaign this month with offers which are even hotter than the rising temperatures in the UAE. Availing of UAB’s summer offers will give Consumers an extra incentive to escape the heat and use UAB’s services as much as possible as the simplest financial transaction will earn bonus points.

Tom Smith, Executive Vice-President & Group Head of Retail Banking, said: At United Arab Bank we understand our customer needs and are constantly looking at focused value-added benefits to offer them throughout the year. Our summer campaign is designed to accommodate the travel needs of all our targeted customers.

31 Mar 2013Q1 Financial Results 2013

April 18 2013, Sharjah, UAE:United Arab Bank P.J.S.C. announces its financial results for the three months ended 31 March 2013.

UAB, one of the fastest-growing banks in the region, announces a net profit of AED 120 million for the first three months of the year, an increase of 60% over the same period in 2012 and the highest quarterly net profit ever reported by UAB.

The Bank’s Chairman, Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, said “The Bank’s outstanding performance in 2012 has continued into the first quarter of 2013, delivering a record net profit in the three month period. UAB remains committed to its growth strategy of building a Bank which offers true value to our customers, shareholders and partners”.

Paul Trowbridge, the Bank’s Chief Executive Officer, commented on the year-to-date performance, “Growth has been well supported through our expanding branch network and improved product offerings. We are now a truly local bank where almost half of our new customers are UAE nationals. Combining these factors with the proven benefits from the alliance with the Commercial Bank of Qatar, we expect UAB to continue on its successful journey throughout 2013 and beyond.”

19 Mar 2013United Arab Bank doubles its commitment to SME's

19 March 2013, Dubai, UAE:United Arab Bank (UAB), the fastest growing bank in the UAE, has ambitious plans to expand its services to the Small and Medium Enterprises (SME) segment.

UAB have been providing working capital solutions to commercial entities for several decades. In 2012, the Bank responded to growing demand from SME customers for a specialized service offering. The bank now offers a full range of simple SME solutions, backed by a commitment to provide market-leading levels of service.

The bank is firmly committed to the UAE national vision for the SME sector. Importantly, UAB recognizes that its SME customers require fast and accurate service, whether opening an account or conducting any type of transaction. Such services are often provided at the location of the business for additional customer convenience.

Paul Trowbridge, CEO of United Arab Bank, commented: “With an unrivalled understanding of the local banking sector and having been catering to the UAE economy for the past 37 years, we are well positioned to contribute to this segment with innovative offerings. Our commitment to the SME sector is further reinforced by the fact that our director, Najla Al Midfa, is actively associated with the prestigious Khalifa Fund for Enterprise Development.”

19 Mar 2013‘UAB Rewards’ awarded the Best Customer Loyalty Program by Banker Middle East

19 March 2013, Dubai, UAE:United Arab Bank (UAB), UAE’s fastest growing bank has received the prestigious - Best Customer Loyalty Program in the Middle East award from the Banker Magazine which once again confirms its place as the leading innovative bank in the Middle East. The award was received by His Excellency Sheikh Faisal bin Sultan bin Salem Al Qassimi, Chairman Board of Directors UAB during an elite ceremony held recently.

The award was based on a consumer survey conducted by Banker Middle East magazine that provided a unique insight into UAB’s Loyalty Program. Customers not only voted in great numbers online for UAB to win the award but also voted with their feet and joined the program in great numbers. Redemption of points in this unique program can be made online anytime, anyplace, anywhere and with a choice of over 360 airlines and 150,000 hotels available at any given time .

Commenting on the award Mr. Paul Trowbridge, C.E.O, United Arab Bank said- We are absolutely delighted with the response to our program which we launched seven months ago keeping in mind the ever-changing demands of today’s consumers. The award we received today reinforces UAB's leading position as pioneers in introducing innovative programs which are positively altering the banking landscape in the UAE.

10 Mar 2013United Arab Bank Champions Forum

10 March 2013, Dubai, UAE:United Arab Bank (UAB),UAE’s fastest growing bank has launched an exciting leadership series titled The Champions Forum for its high net worth clientele who will receive exclusive reward experiences starting with an all-expense paid luxury trip in 2014 to Brazil.

The package includes business class tickets, luxury transfers, 5-star accommodation, indulgence at world - class spas; gastronomy treats at signature restaurants, besides high quality sightseeing experiences. To announce the program and reward select customers, UAB organised a special evening at the Godolphin Ballroom, Emirates Towers.

03 Mar 2013Editor's Choice Award for contributing to Trade Finance

3 March 2013, Sharjah, UAE: United Arab Bank (UAB) has been recognized as leading contributor to Trade Finance at the first Trade & Export Middle East Excellence Awards. UAB received the “Editor’s Choice Award for Contributing to Trade Finance”, the first such award from Trade & Export Middle East magazine. This magazine, published by CPI Dubai and supported by Dubai Exports and Ministry of Foreign Trade, is the only trade magazine in the region that focuses on the vital trade segment.

The prestigious Award was presented to UAB at a special Awards Ceremony held in Dubai on February 25, 2013. The coveted awards have been specifically introduced to recognize the institutions who work towards making trade simpler and faster.

Paul Trowbridge, UAB’s Chief Executive Officer, commented: “Being the first winner of the Award from the institutions promoting and understanding Trade is a true recognition of the contributions made by UAB in the past 38 years of its existence. The winning of this Award by UAB also highlights our efforts and focus in developing our Trade Finance offering for meeting the ever growing requirements of our Corporate/Commercial customers. It will undoubtedly strengthen our reputation amongst our clients and will pave the way for a strong growth in our key client segments. It also means that we must keep the pace to maintain and boost our reputation as a leading provider of Trade Finance services.

28 Feb 2013UAB receives tremendous response at the National Career Exhibition

28 February 2013, Sharjah, UAE:United Arab Bank (UAB), one of the fastest growing banks in the UAE is growing its Emiratisation percentage exponentially every year. UAB grew its Emiratisation levels to 43% at the end of 2012. As UAB’s branch network has grown from 13 branches in 2011 to 20 branches at the end of 2012, UAB has successfully maintained its 100% Emiratisation of Branch manager’s positions.

At the Sharjah Annual Career Exhibition, two of the Bank’s senior management executives have been honoured for their contribution to the Banking & Finance industry in the UAE, reinforcing UAB’s commitment to community development whilst growing its business exponentially.

Sheikh Mohammed Al Nuaimi, Executive Vice President and Humaid Al Attar, Senior Vice President received the honours from Sheikh Dr Sultan Bin Mohamed Al Qassimi, member of Supreme Council and ruler of the Emirate of Sharjah, at the National Career Fair on 20th February, 2013.

27 Feb 2013UAB Annual General Meeting approves the 2012 Annual Accounts and the Distribution of Cash Dividend of 25%

27 February 2013, Sharjah, UAE:United Arab Bank P.J.S.C. (UAB), successfully held its 39th Annual General Meeting (AGM) on Wednesday, 27th February 2013 5h00 pm, at the Coral Beach Resort in Sharjah. Chaired by H.E. Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of the Board of Directors, the AGM adopted the consolidated financial statements for the year ended 31 December 2012.

The AGM further resolved on the distribution of a cash dividend of AED 249.1 million at the rate of 25% of the share capital out of the record annual net profit of AED 410 million which is 24% up over 2011 net profit of AED330 million. The record date for the entitlement to the dividend was set as Sunday, 10 March 2013. The dividend cheques will be sent to shareholders by registered post within 30 days from the AGM date, in accordance with the local applicable laws.

12 Feb 2013UAB maintains social responsibility focus with generous contribution to Al Thiqah Club for the handicapped.

12 February 2013, Sharjah, UAE: United Arab Bank (UAB) rated as one of the fastest growing banks in the UAE has confirmed its commitment to social causes by supporting the Al Thiqah Club for the handicapped. The Bank has made a generous contribution of AED 250,000 to the club for the welfare and development of the handicapped.

Speaking on the occasion, Mr. Paul Trowbridge, Chief Executive Officer at United Arab Bank said, “UAB is firmly committed to giving back to the community. Social responsibility has always been an integral part of UAB’s corporate policy wherein we keep looking for opportunities to do something material for the Nation. It gives us a great satisfaction whilst the bank keeps performing exceptionally well year after year”.

10 Feb 2013UAB offers one of the lowest Home Finance rates in the market starting from 3.99%

10 February 2013, Sharjah, UAE:United Arab Bank (UAB), UAE’s fastest growing bank is providing customers welcome relief by offering one of the lowest Home Finance rates in the market at 3.99%. This factor has provided impetus to the home finance market and made it a more competitive market place for the ultimate benefit of the customer. Additionally, United Arab Bank was the first bank to introduce three-year and five-year fixed rates as a standard proposition to appeal to the varied risk appetites of customers prompting other banks to follow their lead.

Tom Smith, Executive Vice-President & Group Head of Retail Banking, said: “United Arab Bank has a very strong offering in this market and has been viewed as a game changer in the UAE Home Finance market. We have repeatedly demonstrated our commitment to offer our target segment superior products and services. At a time when customers had no choice but to avail of uncompetitive rates in excess of 8%, United Arab Bank’s targeted risk-based pricing model completely overhauled and re-energized the property market in the UAE.”

27 Jan 2013Financial Results for the year ended 31 December 2012

27 January 2013, Sharjah, UAE: United Arab Bank P.J.S.C. (“UAB” or “the Bank”) announces its financial results for the year ended 31 December 2012, subject to regulatory and General Assembly approval.

UAB, one of the fastest-growing banks in the region, announces a record net profit of AED 410 million for the year ended 31 December 2012, an increase of 24% over 2011 and the highest annual net profit ever reported by UAB. A cash dividend of 25% of paid up capital is proposed by the directors for approval, amounting to AED 249.1 million.

Paul Trowbridge, the Bank’s Chief Executive Officer, commented on the year’s performance, “The Bank has performed outstandingly throughout 2012 which has culminated in another excellent financial performance. Year over year growth in net profit is 24%, which is an excellent result and one which the Bank can be extremely proud of. UAB continues to grow and deliver record financial results whilst not compromising on its prudent approach to credit. The strategic growth plans are delivering the success we envisioned and continue to remain embedded in the way we conduct and grow our business, adding value for both new and existing customers. Our commitment to quality is further supported through our expanded branch network, our new SME business segment and our improved product offerings. This has positioned UAB as one of the fastest growing banks in the region, with the size of the Bank doubling in the last two years, as measured by customer deposits, loans and total assets. The benefits of our regional “best practice” partnership and Shareholder alliance with The Commercial Bank of Qatar are clearly delivering the results we expected.”

26 Dec 2012United Arab Bank obtains a landmark Club Loan facility

26 Decembery 2012, Sharjah, UAE: United Arab Bank has obtained a club loan facility of USD 125 million in a landmark deal for the Bank. This is the first time that the United Arab Bank has approached the loan market in this way.

The Facility was coordinated by Commerzbank Aktiengesellschaft, which also acted as the Documentation and Facility Agent as well as a Bookrunner & Mandated Lead Arranger. The other Bookrunners & Mandated Lead Arrangers are The Commercial Bank of Qatar (Q.S.C.), Emirates NBD Capital Limited, National Bank of Abu Dhabi P.J.S.C. and Standard Chartered Bank.

Speaking on this achievement, Paul Trowbridge, Chief Executive Officer of United Arab Bank said, “I am delighted that this landmark deal has been completed, with the support of key relationship banks from the local and international markets. The transaction affirms UAB’s fundamental strengths and reinforces our commitment to be a key player in the UAE market. I would also like to acknowledge the strategic guidance offered by our board of directors.”

16 Dec 2012Double your rewards with UAB and fly free to destination of your choice this holiday season

December 16 2012, Dubai, UAE: United Arab Bank, UAE’s fastest growing bank with record profit increase of 32% for the first 9 months, has now launched its “Double Rewards” campaign for its credit card customers. This exciting campaign will run until 10th January 2013 and is valid for all international transactions.

Tom Smith, Executive Vice- President and Group Head of Retail Banking said “We are delighted to launch this campaign specifically keeping in mind that most of our customers travel during this festive season. We want to ensure our customers not only have a wonderful holiday, but enjoy twice the rewards on their credit card spends. UAB Rewards is aimed at letting our customers know in no uncertain terms we appreciate their relationship and will continue our efforts to reward them with superior value across all products and services compared to other banks”.

12 December 2012, Sharjah, UAE: United Arab Bank (UAB) rated as the fastest growing bank in the UAE and winner of the “Bank of the Year 2011, UAE” Award from the Financial Times Banker magazine of UK, participated in the ‘1st Sharjah Conference on Human Capital & Sustainable Development’ as a platinum sponsor, held at American University of Sharjah.

His Highness Sheikh Sultan Bin Mohammed Bin Sultan Al Qassimi, the Crown Prince and Deputy Ruler of Sharjah, honoured UAB for its contribution to Emiratisation and for its continuous support in the development of human capital.

While receiving the award on behalf of UAB, Sheikh Mohammad Al Nuaimi, Senior Vice President UAB said, “Our participation in this event underlines UAB’s commitment to the development of Human Capital while growing our business exponentially. Our words are followed by concerted actions towards the development of UAE Nationals”.

December 5 2012, Dubai, UAE: United Arab Bank (UAB), UAE’s fastest growing bank has a long heritage of fostering managerial excellence amongst UAE Nationals who are the cornerstone of the country’s progress. UAB has consistently offered a platform to talented banking professionals from the local population. Following on from the appointment of the first UAE Female Banking Director earlier this year, the Bank has recently appointed Yusra Abdul Ghaffar and Faisal Al Najjar to the Strategic roles of Head of Branches & Islamic Banking and Head of Liabilities respectively and has also appointed eight new local Branch Managers in 2012.

Paul Trowbridge, Chief Executive Officer of United Arab Bank, said: “United Arab Bank offers an avenue for talented Nationals to consolidate their expertise in managerial positions. This approach falls in line with the stated goals of the UAE government’s declaration of 2013 as the year of Emiratisation; which the authorities intend to achieve through joining forces and uniting energies of like-minded organizations like UAB as well as other private and public sector enterprises. The Bank intends to open 10 more branches next year, all of which will be managed by UAE Nationals.

October 24 2012, Dubai, UAE: United Arab Bank (UAB), the UAE's fastest growing bank, has launched another market leading product, Flexi Deposits. This program will be available to all retail customers who bring in new-to-bank deposits between 29th October and 19th December. The minimum subscription amount is AED 50,000 and customers can enjoy up to 5.25% interest rate – the highest rate available in the market today.

Tom Smith, Executive Vice-President & Group Head of Retail Banking, added: "We are very pleased with the overwhelming response we have got so far to this product. In addition to offering the highest interest rate on any deposit programme over 18 months, there are no penalties for early redemption of funds and to top it all, no hidden fees or linkages to any volatile market instruments."

18 Oct 2012Q3 Financial Results 2012

October 18 2012, Sharjah, UAE: United Arab Bank P.J.S.C. ("UAB" or "the Bank") announces its financial results for the nine months ended 30 September 2012.

UAB, one of the fastest-growing banks in the UAE, today announced a record net profit of AED 298 million for the nine months ended 30 September 2012, an increase of 32% over the same period of 2011 and the highest net profit ever for UAB in the first nine months of the year.

Paul Trowbridge, the Bank's Chief Executive Officer, commented on the year-to-date performance, "The Bank's outstanding performance in the first half of the year has successfully continued into the third quarter delivering a record profit over the nine month period. The Bank continues to grow and deliver excellent financial results whilst not compromising on its prudent approach to credit or value to its customers. Our strategic growth plans remain embedded in the way we conduct our business and successfully translates into providing value to our traditional customers, whilst also reaching new customers through our expanded branch network, new SME business segment and product offerings. The benefits of our regional "best practice" partnership and Shareholder alliance with the Commercial Bank of Qatar are clearly evident."

October 10 2012, Sharjah, UAE: To add to the festive fervor, United Arab Bank (UAB), Financial Times Bank of the Year in the UAE and UAE's fastest growing bank, is offering a special Eid package for 14 days where customers with fixed deposit placements of AED 100,000 or above for a minimum of four months will fly free to London or other popular European destinations

With United Arab Bank's Loyalty Program, customers can make bookings online anytime, any place, anywhere and with a choice of over 360 airlines.

Tom Smith, Executive Vice-President & Group Head of Retail Banking, said: "This is the only program of its kind where customers can earn points for debit card, salary transfer and fixed deposit transactions, in addition to earning points on all credit card transactions. With this program customers can save up to 80% on their credit card spends when compared to other competing products available in the market"

3 September 2012, Abu Dhabi, UAE: United Arab Bank (UAB), the Bank of the Year in the UAE as voted by the Financial Times Group and the UAE's fastest growing bank has launched a revolutionary new Rewards Program, UAB Rewards, for its customers. This Program further distinguishes UAB for being the first bank in the UAE to introduce such a Program.

For a lower Credit Card spend compared to other Banks, UAB Customers can now redeem free flights to any destination across the globe in addition to accessing over 360 airlines. Furthermore, Customers can enjoy the benefit of extra rewards by also earning miles with the airline they travel on while redeeming their UAB Rewards points. Finally, customers can also make bookings online anytime, any place, anywhere and with an airline of their choice.

Paul Trowbridge, Chief Executive Officer, United Arab Bank said: "At UAB, we have repeatedly demonstrated our ability to deliver outstanding value to our customers across a range of products and services. UAB Rewards is the latest initiative from UAB and we are absolutely delighted to be the first Bank to launch this exciting Rewards Program in the UAE. Keeping in mind the ever-changing demands of today's Consumers, UAB continues to pioneer the introduction of innovative products thereby positively altering the banking landscape in the UAE once again."

24 Jul 2012UAB to disburse meals to over 3,000 people during the holy month of Ramadan

24 July 2012, Dubai, UAE: United Arab Bank (UAB), the Bank of the Year in the UAE as voted by the Financial Times London and the UAE's fastest growing bank, has joined hands with Awqaf & Minors' Affairs Foundation to disburse meals to over 3,000 deserving people during the holy month of Ramadan.

Sheikh Faisal bin Sultan bin Salem Al Qassimi, Chairman of the UAB Board said: "UAB's Islamic Banking Division is happy to launch this Ramadan initiative in association with Awqaf & Minors' Affairs Foundation as part of our ongoing commitment to give back to the community we operate in. Since inception we have keenly participated in various charitable events in keeping with the spirit of giving during the holy month and have sought every opportunity to contribute in the betterment of society."

Tayeb Abdulrahman Al Rais, General Secretary of Awqaf & Minors' Affairs Foundation, stated: "We are thankful to UAB for supporting charitable causes that are organised by Awqaf & Minors' Affairs Foundation. This act reiterates UAB's gratitude and appreciation for the great responsibility undertaken by the department of providing free Iftar packs to Muslims. Thus we look forward to further strengthening our ties with United Arab Bank."

16 Jul 2012Q2 Financial Results 2012

16 July 2012, Sharjah, UAE: United Arab Bank, one of the fastest growing UAE banks, today announced the best first half-year results in its history, with a record-breaking net profit of AED 193 million, representing an increase of 45% over the same period of 2011.

Speaking at a press conference, Paul Trowbridge, the Bank's Chief Executive Officer, said: "Our financial results for the first six months of the year are excellent and represent the highest net profit for the first half ever reported by the Bank. It's a fantastic achievement, and the full benefits of the regional best practice partnership and Shareholder alliance with the Commercial Bank of Qatar are clearly evident."

Trowbridge pointed out that in the six months ended 30 June 2012, customer loans and advances increased by 19% to AED 9.6 billion from AED 8.1 billion at 31 December 2011. Customer deposits also increased by 8% to AED 8.4 billion from AED 7.8 billion over the same period.

13 Jun 2012United Arab Bank announces winner of Mercedes C200

13 June 2012, Abu Dhabi, UAE: United Arab Bank (UAB), UAE's Bank of the Year, as awarded by the Financial Times, London, recently announced the winner of 'Mercedes Benz' lucky draw contest. The contest ran for a month from April 30 to May 31 which saw enthusiastic participation from hundreds of Abu Dhabi based customers.

Handing over the key of the new Mercedes C200 to the lucky winner, Rami Joudah, Head of Branches said: "In a bid to support the community we operate in, UAB has always offered its customers value for money even in these difficult times. Offering a Mercedes C200 on the occasion of the new branch opening in Abu Dhabi is one such incentive. The opening ceremony was attended by thousands of residents who had come from all the Emirates to participate in the draw and also meet Fabio Cannavaro, the World Cup winning captain. Meanwhile, we wish all the best to our winner and hope they enjoy many years of safe driving in this dream car".

Fabio Cannavaro (Winning Italian Captain of 2006 World Cup) a UAB customer himself and UAB's Brand Ambassador also congratulated Mr. Akram Al Hammadi on the occasion of his win and added: "I congratulate the lucky winner on this grand occasion and advise everyone to open an account with UAB. It was the right choice for me and it can be right for all those who wish to secure the future of their families and reap enormous benefits at the same time."

12 June 2012, Dubai, UAE: United Arab Bank (UAB), winner of Financial Times London's Bank of the Year award, has introduced a new promotion giving its credit card Customer's the opportunity to receive up to 5% cash back on all International spends and 2% on Domestic spends, while at the same time enjoying one of the lowest interest rates in the market.

Tom Smith, Executive Vice-President & Group Head of Retail Banking, said: "This offer was chosen by our customers, as in all our recent focus groups on summer campaigns and cards, cash back was chosen by our customers as the benefit they found the easiest to understand and redeem."

All UAB credit cardholders spending AED 5,000 or more can avail of this offer which starts this month and ends on July 15. With this offer the bank seeks to integrate its products and services with the lifestyle and habits of its customers. It combines cashless transactions, ease of use and security during travel to make their holiday a more rewarding experience.

9 May 2012, Sharjah, UAE: United Arab Bank, the fastest growing bank in the UAE, today took another step towards cementing its leadership position in Emiratisation by signing an agreement with the Sharjah Government's Directorate of Human Resources to recruit more UAE nationals.

The agreement, which is only the second of its kind with a bank, was signed by HE Tareq Sultan bin Khadem, Member of the Executive Council and Chairman of the Directorate of Human Resources, and Mr. Paul Trowbridge, Chief Executive Officer of United Arab Bank.

Under the agreement, the Directorate will put forward Emirati candidates for suitable jobs at UAB, and will also provide training to these candidates in order to help them hone their skills and develop careers at the bank.

30 Apr 2012Abu Dhabi Branch Opening

30 April 2012, Sharjah, UAE: United Arab Bank (UAB), the fastest growing bank in the UAE, today announced it is investing AED 40 million on its Abu Dhabi expansion programme which will lead to the creation of new job opportunities for UAE nationals.

The bank, which was named the UAE Bank of the Year for 2011 by the Financial Times' Banker Magazine, is expanding its footprint in the Nation's capital and will have five branches in Abu Dhabi before the end of the year, according to its Founder and Chairman Sheikh Faisal Bin Sultan Bin Salem Al Qassimi.

"Abu Dhabi is a strategic focus for United Arab Bank and our branch expansion reinforces our presence and commitment towards the emirate of Abu Dhabi. We see huge potential for growth in the capital across both the corporate and retail arms of our business," Sheikh Faisal said at the opening of UAB's newest branch in Abu Dhabi.

22 Apr 2012United Arab Bank announces a net profit of AED 75 million in the first quarter of 2012

22 April 2012, Sharjah, UAE:United Arab Bank (UAB), one of the fastest-growing UAE banks, today announced that its net profit for the first quarter of the year has increased by 23 per cent over the same period last year thanks to the successful implementation of its expansion strategy and its increased focus on retail operations.

Paul Trowbridge, CEO of UAB, said in a statement that the bank's net profit was AED 75 million in the period ending March 31st, an increase of 23% over the same period last year, while operating profit increased by 38% to AED 111.7 million.

"We are pleased to announce that our performance to date in 2012 has been in line with our plans. This result also reflects our commitment to providing value to our traditional customers, whilst also reaching new customers through our expanded branch and product offering. "This is a very encouraging start to the year and is a continuation of our excellent performance last year," he added.

26 March 2012, Sharjah, UAE: Considering that driving is arguably the UAE's number one pastime, it is surprising how little choice motorists have had when it comes to their finance and insurance needs. While there are plenty of finance companies and insurers out there, the choice for the customer has usually boiled down to interest rates and premiums, with little recognition of the specific needs of local drivers. Hoping to change this, two of the UAE's leading companies have joined forces to launch an innovative new product designed specifically for the nation's motorists.

United Arab Bank (UAB), recently voted "UAE's Bank of the Year" by the Financial Times' Banker magazine, and Zurich, one of the world's leading insurance groups, have developed a bundled product that combines market leading auto finance, motor insurance tailored to the unique requirements of drivers in the UAE, and a range of value added benefits.

With an auto loan at a flat interest rate of 2.99% and add-ons such as an AED 250 gift voucher for car accessories, an AED 100 Salik pre-paid card, and a pre-approved credit card, UAB's Auto Loan Bundle offers the customers an opportunity to enjoy a range of best-in-class products and services under one roof.

13 March 2012, Sharjah, UAE: The winner of "Bank of the Year" Award from The Financial Times Banker magazine, United Arab Bank has once again confirmed robust financial performance and maintaining responsibility towards community development. At the end of 2011, United Arab Bank achieved an Emiratisation level of 41% through a comprehensive human resources development program. This is one of the highest Emiratisation levels achieved in the Banking & Financial Services sector in the UAE.

In recognition of its efforts for the development of the Emirati community, the Bank has won the prestigious Human Resources Development Award in the Banking and Financial Sector in the Year 2011 presented at the 14th National Career Fair Exhibition held in Sharjah.

At the same ceremony, United Arab Bank also received recognition and thanks for its high Emiratization percentage of 41% achieved during 2011. Both the Awards were presented by H.H. Sheikh Dr. Sultan Bin Mohammad Al Qassimi, Member of the Supreme Council, and Ruler of Sharjah.

29 February 2012, Sharjah, UAE: The General Assembly of the Shareholders of United Arab Bank (UAB) approved the appropriation of profits for the year ended 31 December 2011 and distribution of a cash dividend equal to 20% of the paid up capital.

The generous dividend reflects UAB's strong financial performance for 2011 with a record net profit of AED 330 million and affirms UAB's commitment to provide value to shareholders for their ongoing support of the Bank.

Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of UAB stated, "The impressive financial performance by UAB in a challenging global economic climate reaffirms UAB's status as UAE's 'Bank of the Year'. The Bank has played an active role in supporting different sectors of the economy in the UAE and I am confident that we will continue to repeat this success story in 2012 with the same energy and enthusiasm."

27 Feb 2012UAE Nationals "Al Ahlam – Only For You" Program'

26 February 2012, Sharjah, UAE: Fresh from winning the prestigious 'Bank of The Year Award' from the Financial Times Banker magazine, United Arab Bank is now delighted to announce the launch of it's ground-breaking "AL AHLAM" program for UAE Nationals, the first of it's kind to be launched in the UAE for customers in this market segment.

"We have remained close to our roots throughout our 37 year history and we have consistently supported UAE Nationals with innovative products and services which address both their commercial and personal banking needs." quoted Tom Smith, Executive Vice President & Group Head of Retail Banking. "AL AHLAM", as the name denotes, is all about giving our valued customers the financial freedom to make their dreams come true.

"This program is the first of its kind in the market and specifically addresses the unfulfilled needs of this segment and rewards them with a tailor-made banking experience", said Rami Joudah, Head of Branches & Islamic Banking.

25 Jan 2012UAB End of Year 2011 Financial Results

25 January 2012, Sharjah, UAE: United Arab Bank P.J.S.C. ("UAB" or "the Bank") announces its financial results for the year ended 31 December 2011.

UAB reported an impressive set of financial results that confirmed its status as the UAE's "Bank of the Year", as awarded by the Financial Times Banker magazine of the United Kingdom. By playing an active role in supporting different sectors of the economy, UAB has also established itself as the fastest growing bank in the region.

Paul Trowbridge, the Bank's Chief Executive Officer said, UAB has taken positive steps to deliver its strategy of supporting UAE-based companies and individuals in these difficult economic times. By understanding the needs of our customers, we have been able to tailor our products and services to the specific needs of each client. These actions have enabled the Bank to grow at unprecedented rates. Our approach is recognized by respected third parties and we were delighted to receive the "UAE Bank of the Year 2011" award from the Financial Times of London, which also reflects very favourably on the dedication and commitment of our staff.

01 Dec 2011UAB Awarded 'Bank of the Year 2011 UAE' By 'The Financial Times Banker Magazine'

December 1 2011, Sharjah, UAE: United Arab Bank (UAB) has taken another major step in establishing its reputation as the fastest growing bank in the UAE after receiving 'The Bank of The Year 2011 UAE' from the Financial Times Banker Magazine. This follows the earlier receipt of the same accolade from the Global Banking & Finance Review, London.

Regarded as the industry standard for banking excellence, a Financial Times independent panel of judge's evaluated banks worldwide based on their ability to deliver shareholder returns and on a number of other criteria including Transparency, Corporate Governance, Sustainability, Innovation, and Customer Service.

Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, Chairman of United Arab Bank, commented: "I am particularly delighted with the timing of the award as it coincides with the 40th anniversary of the formation of United Arab Emirates. This is our fifth award for the year, which highlights UAB's unswerving commitment to excellence, its on-going transformation, growth, and continuing success story."

October 16 2011, Sharjah, UAE: United Arab Bank P.J.S.C. ("UAB" or "the Bank") announces its financial results for the nine months ended 30 September 2011.

In spite of continuing challenging market conditions, UAB recorded a net profit of AED 225 million for the nine months ended 30 September 2011.

Paul Trowbridge, the Bank's Chief Executive Officer, commented on the progress made during the year, "The Bank has moved proactively to address issues arising from a very difficult credit environment by focusing more heavily on certain market sectors. These actions have driven the encouraging increase in revenues, whilst enabling the Bank to take advantage of future opportunities. The Bank continues to enjoy a very strong relationship with its traditional customer base, as well as expanding its reach through new premises and product offerings for both corporate and retail customers."

October 9 2011, Sharjah, UAE: United Arab Bank has again caused great excitement in the residential mortgage market by announcing its new unbeatable interest rate in the UAE.

With an interest rate of 3.99%, this is a welcome addition to the mortgage landscape for customers who are looking for a sensible alternative to bring down their monthly commitments. UAB offers this product to Salaried and Self Employed UAE Nationals as well as Expatriates with Conventional and Islamic financing options.

Paul Trowbridge, Chief Executive Officer, United Arab Bank stated: "UAB remains committed to supporting the economic development of the UAE and its community. Today's announcement is another step towards supporting the recovery of the UAE real estate market from both consumer and developer perspectives. The Bank is rapidly establishing itself as a key player in the UAE home finance sector."

18 Jul 2011UAB 6 months Q2 Financial Results

July 18 2011, Sharjah, UAE: United Arab Bank P.J.S.C. ("UAB" or "the Bank") announces its financial results for the six months ended 30 June 2011.

In ongoing challenging market conditions, UAB recorded a net profit of AED 133 million for the half-year ended 30 June 2011.

Commenting on the first half's results, Paul Trowbridge, the Bank's Chief Executive Officer, said: "The Bank registered strong first half results and is well positioned to take advantage of expected improvements in the business sector and capitalize on future growth opportunities. From an operational perspective, despite a continued challenging credit environment, our half year results have seen a return to top-line growth in lending, based on our strong core banking franchise, long-standing customer relationships, new product offerings in both corporate and retail segments, and our staff expertise."

29 Jun 2011Interview with the CEO - DowJones

DUBAI, June 29, 2011 - UAE banks face another tough year as lenders continue to deleverage and with few signs of recovery emerging from the region's property sector, the chief executive of United Arab Bank said yesterday.

"The outlook for the year for the banking sector and for the economy is that it is still a year of challenges and it is tough," Paul Trowbridge told Zawya Dow Jones in an interview at the bank's Sheikh Zayed Road branch in Dubai.

"UAB is a good indicator of the underlying economy because of the nature of our customers and businesses and I think we will reflect that," the former National Bank of Oman executive said in reference to the bank's upcoming second-quarter results.

UAB made a net profit of 61mn dirhams ($16.6mn) in the first quarter of 2011. Banks deleveraging balance sheets following the financial crisis and tight central bank requirements for provisions are the main reasons behind the lacklustre outlook for UAB and the broader UAE sector, Trowbridge said.

28 Jun 2011Agriculture Loans by UAB

June 28 2011, Sharjah, UAE: United Arab Bank (UAB) has launched an innovative business loan initiative to support the development of Agriculture in the UAE and Abu Dhabi Emirate in particular.

The initiative aims to provide financing to the local farmers in Abu Dhabi funded by Federal grants at very competitive rates over a renewable period of three years. The facility has been designed in collaboration with Abu Dhabi Food Authority (ADFA) with an aim to support young farmers develop their businesses and promote agricultural production in the UAE in general and Al Ain in particular.

Paul Trowbridge, UAB's Chief Executive Officer, commented on the initiative saying: "We are pleased and proud to support agriculture in the UAE. This is a great initiative towards developing this main economic activity and a translation of the Bank's commitment to the vision of the Leadership of the UAE for nurturing and promoting a diversified economy. Our aim is to endorse farming and agriculture as a major economic sector, in line with our commitment to being part of and supporting the community and the nation."

27 Jun 2011Interview with CEO - Gulf News

June 27 2011, Sharjah, UAE: Paul Trowbridge, chief executive of United Arab Bank, at the bank’s Buhairah Corniche branch in Sharjah. Trowbridge said while the bank intends to continue its cautious lending policies, it has plans to expand its retail business.

Dubai: Incorporated in 1975 with its headquarters in Sharjah, United Arab Bank (UAB) offers a range of financial services in corporate and retail banking via 14 offices and branches throughout the UAE.

The bank has been a key player in the corporate banking sector across the country since its inception. With the launch of its wealth management and Islamic banking services in recent years, it has grown its retail customer base and is targeting further expansion.

27 Jun 2011United Arab Bank Awarded Best Trade Finance House for the Second Year

June 27 2011, Sharjah, UAE: United Arab Bank (UAB) has been awarded 'Best Trade Finance House' in the MENA region, for the second year in a row, by The Banker Middle East, the highly regarded banking magazine. The award has formally been presented to the Bank on a special Industry Award Ceremony held at the Ritz Carlton DIFC Hotel in Dubai on 22nd June.

Paul Trowbridge, UAB's Chief Executive Officer, commented: "While highlighting our unswerving commitment to excellence, the winning of this prestigious award also emphasizes our efforts and dedication in developing our Trade Finance offering based on feedback received from our valued customers. It undoubtedly strengthens our reputation as an excellent Trade Finance Services provider and serves as a confirmation that we are providing the types of innovative solutions that the market requires and we look forward to continuing to develop offerings aligned with our customers' evolving trade needs."

Over the past two years, UAB has taken major steps to bring its Trade Finance decision-making closer to the customer, simplifying paperwork and speeding up processes to provide a superior level of service.

June 15 2011, Sharjah, UAE: United Arab Bank has recently caused great excitement in the residential mortgage market by announcing the lowest interest rate in the UAE.

With an interest rate of 4.99%, this is a welcome addition to the mortgage landscape for customers who are looking for a sensible alternative to bring down their monthly commitments. UAB offers this product to Salaried and Self Employed UAE Nationals as well as Expatriates with Conventional and Islamic financing options.

Paul Trowbridge, Chief Executive Officer, United Arab Bank commented "This new initiative further re-emphasizes the bank's overall strategy to focus on UAE nationals and committed expatriates and offer products that match their needs and aspirations. We strongly believe this will bring renewed impetus to the mortgage market and gives our target customers an opportunity to own their own home with the most competitive interest rate in the market."

30 May 2011United Arab Bank Reaps Best Bank Award for Second Year

May 30 2011, Sharjah, UAE: United Arab Bank (UAB) has been awarded 'Best Bank of the Year' Award for the second year in a row at the Arab Achievement Award Ceremony held in conjunction with the second Annual Arab Investment Summit 2011 that took place on 23 and 24 May at the Yas Rotana Hotel in Abu Dhabi.

Paul Trowbridge, UAB's Chief Executive Officer, commented: "UAB has once again been recognized for its achievements. We are consistently ranking among the UAE top financial institutions and have received numerous independent industry accolades. Winning this award for two consecutive years highlights UAB's on-going transformation, growth, and success story. It undoubtedly strengthens our reputation amongst our clients and prospects as a UAE world-class bank, with a single-minded focus on product quality and service excellence."

May 25 2011, Sharjah, UAE: United Arab Bank (UAB) announced its support and sponsorship of the second GCC HR and Job Market Forum entitled "Human Resources and Job Market Challenges in the GCC" launched on May 24, 2011.

The Forum was held under the patronage of HH Sheikh Sultan Bin Mohammad Bin Sultan Al Qassimi, Crown Prince and Deputy Ruler of the Emirate of Sharjah, and in the presence of HE Dr. Abdul Latif Rashed Al Zayani, the Secretary General of the GCC Council. The Forum mainly tackled the issues of HR funds, the challenges facing the GCC job market, and the role of the private sector in supporting job market growth.

Awni Al Alami, UAB's Deputy CEO, stated: "UAB is committed to supporting and developing the national recruitment process and the job market in the UAE. Our key strategic initiative aims to promote local talent and to create the right banking opportunities to attract promising UAE Nationals from Government colleges and local universities. UAE National staff members are a great added value. The Bank's network expansion program observes and nurtures our Emiratization efforts whereas every newly opened branch offers new job opportunities that help develop the national task force, in an effort to support the economic development of the UAE and its people."

17 May 2011UAB's Ajman Branch Opening

The new branch is situated in a prime strategic location in GMC building on Ajman's Sheikh Zayed Road. It offers both conventional and Islamic banking services to retail customers.

The event was attended by UAB’s Brand Ambassador, the legendary Footballer, Captain of the 2006 World Cup Winning Team and now Captain of Al Ahli Football Club in Dubai, Fabio Cannavaro who helped open the branch with an amazing 'kick-off' through the main entrance of the new branch of United Arab Bank – one of the UAE's oldest and longest established banks.

The event attracted a large attendance of VIP's, customers, and children who took this unique opportunity to meet with the Crown Prince of Ajman and with Cannavaro. The crowd watched in astonishment as Cannavaro skillfully displayed all the talent that helped him secure Italy's World Cup in 2006.

In his statement to the press, Paul Trowbridge, UAB's Chief Executive Officer, said: "Today's opening showcases our commitment to create and maintain a major banking entity capable of keeping up with the challenges of growing economic demands and customer requirements across all the seven Emirates, aiming to support the economic development of the UAE and its people." Commenting on Fabio Cannavaro's presence and brand ambassadorship.

01 May 2011United Arab Bank Signs Fabio Cannavaro as Brand Ambassador

May 1 2011, Sharjah, UAE: United Arab Bank (UAB) today announced the signing of the legendary World Cup captain and football icon, Fabio Cannavaro, as its official brand ambassador.

Paul Trowbridge, UAB's Chief Executive Officer, stated: "we are delighted to be working with an internationally acclaimed football star like Fabio Cannavaro and sign him as our brand ambassador. This is another step in UAB's exciting journey towards becoming the Bank of choice in the UAE." He continued: "Cannavaro is the perfect fit to synergize with the brand. He is a living embodiment and symbol of our shared unwavering commitment to excellence, our common pledge for success, and our joint vision and passion to win. To all of us, sport is about partnership, teamwork, and discipline, and so is banking. We believe that sport plays an integral role in today's society, promoting values such as dedication, determination, competition, endurance, and good sportsmanship, which is in line with our commitment to being part of and supporting the community and our proud nation. For United Arab Bank, this is a translation of the Bank's commitment to the vision of the Leadership of the UAE for promoting a fit and healthy young nation."

The deal involves the football superstar acting as the face and spokesperson of the Bank and participating in a series of events, launches, advertising and retail materials across all the seven emirates where football is a popular sport, promoting and endorsing the UAB brand through various marketing campaigns.

19 Apr 2011Financial Results for the First Quarter Ended 31 March 2011

Operating Income up by 10% to AED 125 million

Loans & Advances up by 6% to AED 5.8 billion

Customer Deposits up by 8% to AED 5.2 billion

April 19 2011, Sharjah, UAE: United Arab Bank P.J.S.C. ("UAB" or "the Bank") announces its financial results for the first quarter ended 31 March 2011.

In ongoing challenging market conditions, UAB recorded a net profit of AED 61 million for the first quarter ended 31 March 2011.

Total operating income grew by 10% to AED 125 million for the three months ended 31 March 2011, compared with AED 114 million during the same period last year.

UAB took provisions amounting to AED 20 million against AED 10 million in corresponding quarter last year, in line with the Bank's conservative provisioning policy.

30 Mar 2011Best Trade Finance Offering Award

March 30 2011, Sharjah, UAE:United Arab Bank has been awarded 'Best Trade Finance Offering' by The Banker Middle East, the highly regarded banking magazine in the MENA region. The award has formally been presented to the Bank on a special Product Award Ceremony held at the Emirates Towers Hotel in Dubai on 23rd March.

Paul Trowbridge, UAB's Chief Executive Officer, commented: "The winning of this prestigious award highlights our efforts and dedication in developing our Trade Finance offering, based on feedback we get from our customers. It will undoubtedly strengthen our reputation amongst our clients and will pave the way for a strong growth in our key client segments. It also means that we must keep the pace to maintain and boost our reputation as an excellent Trade Finance Services provider." He added: "UAB has left no stone unturned to become a world-class bank in the UAE. We realize that only a single-minded focus on product quality and service excellence would help us get here. Today, we are proud to say that we are well on our way towards that goal."

12 Mar 2011United Arab Bank Opens a new Branch in Ras Al Khaimah

March 12 2011, Sharjah, UAE: Under the patronage of HH Sheikh Mohammed Bin Saud Al Qasimi, Crown Prince of the Emirate of Ras Al Khaimah, United Arab Bank (UAB) today opened its second branch in Ras Al Khaimah.

The event was attended by UAB's Brand Ambassador, the legendary Footballer, Fabio Cannavaro who helped open the branch with an amazing 'kick-off' through the main entrance of the new branch. The event attracted a large attendance of VIP's, customers, and children who took this unique opportunity to meet with the Crown Prince of Ras Al Khaimah and with Cannavaro.

The crowd watched in astonishment as the Captain of the 2006 World Cup Winning Team and now Captain of Al Ahli Football Club in Dubai kicked a goal through the door of the new Ras Al Khaimah branch of United Arab Bank, one of the UAE's oldest and longest established banks.

28 Feb 2011United Arab Bank's General Assembly Approves Cash Dividend

February 28 2011, Sharjah, UAE:The General Assembly of the Shareholders of United Arab Bank (UAB) approved during its annual general meeting held yesterday February 27th at Coral Beach Resort in Sharjah the proposal of the Board of Directors regarding the appropriation of profits for the year 2010 by distributing a cash dividend equal to 16% of the paid up capital.

UAB's Chairman, Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, stated that the Bank was able to achieve satisfactory results for the year ended December 2010, considering the general economic downturn and overall market conditions impacted by the Global Financial Crisis that started during the last quarter of 2008, as evidenced by the 10% increase in profit for the year ended in December 2010.

26 Feb 2011Interview with CEO - Banker Middle East

February 2011, UAE: Embracing the double digit growth in a single digit economy isn't what Paul Trowbridge, Chief Executive Officer of United Arab Bank is proudest of - he's happier to be reconnecting the bank to its original customers, saying profits follow on naturally...

United Arab Bank (UAB) recently announced a record net profit for 2010 against a background of 'challenging financial markets'. The bank reported net profits up by 10 per cent for the year to AED 308 million ($8 3.87 million). The 2010 net profit exceeded AED 300 million for the first time in the bank's history. Total assets increased by 11 per cent to AED 7.74 billion ($2.1 billion) in 2010. Loans and advances increased by 16 per cent to AED 5,53 billion ($ 1.5 billion) at the end of 2010.

The capital adequacy ratio at the end of the year was at a high level of 20.4 per cent. demonstrating, according to the bank, sufficient capital to support future growth. Paul Trowbridge, UAB's Chief Executive Officer told Robin Amiot, "Capital is not an issue for us. We get asked the question every year, 'Are you going to raise more capital?' We don't need to do that. Basel III might be tough for some banks but we don't see it as an issue for us at all."

23 Feb 2011United Arab Bank Achieves 39% Emiratization Percentage

February 23 2011, Sharjah, UAE: United Arab Bank (UAB) today announced that it has achieved an increase of 4% in its Emiratization percentage to reach 39% as at the end of December 2010 compared to 35% in December 2009, recording one of the highest Emiratization rates among the UAE banking sector for 2010.

The Bank has also successfully maintained a phenomenal 100% Emiratization of Branch Manager positions for the fourth year in a row, which has won UAB the Human Resources Development Committee in the Banking and Financial Sector Award for 2009 and 2010.

Paul Trowbridge, UAB's Chief Executive Officer, said: "UAB remains committed to support and promote Emiratization. Our objective is not only to meet Emiratization requirements but also tooffer career advancement opportunities to qualified and talented UAE Nationals in various junior and senior positions."

09 Feb 2011Small is Beautiful (Interview with the CEO / 7 Days)

February 9 2011, Sharjah, UAE: Paul Trowbridge is not your average banking CEO. The boss of the UAE’s United Arab Bank doesn't want to open a lot of branches, doesn't even want to massively increase his number of customers, and when asked to describe the products offered by his bank settles for "basic".

But should any of his more self-promoting peers take a quick glance at the recent performance of his Sharjah-headquartered institution they might just conclude that he's onto something.

With many larger banks still trying to repair the damage done to their balance sheets by the global financial crisis, last month United Arab Bank (UAB) reported a 10 per cent increase in net profits in 2010 compared to the previous year, and made more than Dhs300 million for the first time.

08 Feb 2011United Arab Bank Supports Sailing Arabia

February 8 2011, Sharjah, UAE: Under the patronage of HH Sheikh Mohammed Bin Saud Al Qasimi, Crown Prince of the Emirate of Ras Al Khaimah, United Arab Bank (UAB) announced its co-sponsorship of 'Sailing Arabia–The Tour', the regional sailing event taking place across the Arabian peninsula, in line with the Bank's commitment to developing UAE youth and the local community.

The announcement was made at a press conference at Ras Al Khaimah Royal Yacht Club (Al Hamra Marina) in collaboration with Oman Sail (the organizer) and Al Hamra Marina.

The event, hosted by UAB and Al Hamra Marina, featured the Al Qassimi Cup, an In Port racing held by Oman Sail and the competing boats in honor of HH Sheikh Mohammed Bin Saud Al Qasimi, Crown Prince of the Emirate of Ras Al Khaimah, who presented the award to the winning team.

In his statement to the press, Paul Trowbridge, UAB's Chief Executive Officer, said: "We are pleased and proud to support this inaugural edition of Sailing Arabia-The Tour. This is a great initiative towards reigniting the region's rich maritime heritage, promoting one of the region's fastest growing sports, and generating goodwill and a healthy spirit of competition among the GCC youth.

31 Jan 2011UAB's Islamic Credit Card Awarded by Visa

January 31 2011, Sharjah, UAE: United Arab Bank Islamic Credit Card has been recognized by Visa International with an award for successfully introducing the First Vertical Islamic Credit Card in the Middle East which further complements and strengthens the Bank's Islamic product offering in a truly innovative and distinctive fashion.

The award ceremony took place at the Coral Beach Resort in Sharjah where the award was presented to UAB's Chairman, HE Sheikh Faisal Bin Sultan Bin Salem Al Qassimi by Mr. Stuart Isted, Business Leader, from Visa Inc. in the presence of UAB's Vice- Chairman, Omar Al Fardan who is also the Chairman of the National Bank of Oman, of other UAB Directors, and of Andrew Stevens, the Group CEO of the Commercial Bank Alliance comprising the Commercial Bank of Qatar, the National Bank of Oman, and United Arab Bank.

Sheikh Faisal Al Qassimi commented on the award saying: "To win this award is a clear indication of UAB's commitment to Islamic Banking and our vision to confirm our position amongst the leading banks in the region offering a comprehensive range of Islamic banking services. The Bank has made steady progress in recent years and is in excellent shape despite challenging market conditions. We are well positioned to grow and further nurture our distinctive banking tradition in both Conventional and Islamic banking within complete openness and transparency."

25 Jan 2011UAB Hits Record Growth with Net profit up 10%

January 25 2011, Sharjah, UAE: United Arab Bank P.J.S.C. today announced its financial results for the year ended 31 December 2010.

In challenging financial markets, United Arab Bank maintained its earnings momentum and recorded net profit growth of 10% to AED 308 million for the year 2010, compared to AED 281 million achieved during 2009. The 2010 net profit has actually exceeded AED 300 million for the first time in the Bank's history.

Earnings per share improved to AED 0.31 for 2010 compared to AED 0.28 in 2009.

Total Assets increased by 11% from AED 7.00 billion in 2009 to AED 7.74 billion in 2010. Loans and Advances increased by 16% from AED 4.77 billion in 2009 to AED 5.53 billion in 2010. The Capital Adequacy Ratio at end of the year was at a high level of 20.4% as against a minimum regulatory requirement of 12%, which demonstrates sufficient capital to support future growth.

12 Jan 2011UAB Opens New Branch in Sharjah Industrial Area

January 12 2011, Sharjah, UAE:United Arab Bank (UAB) today opened a new branch in Sharjah Industrial Area under the patronage of HE Ahmad Mohammad Hamad Al Midfa, Chairman of the Sharjah Chamber of Commerce and Industry.

The new branch is situated in a prime strategic location in Abdullah Rashid Al Shamsi building, Industrial Area 12, and offers both conventional and Islamic banking services to corporate and retail customers.

In an earlier statement to the press, Paul Trowbridge, UAB's Chief Executive Officer, commented: "This branch constitutes a key in the chain of our expansion plan. By opening this Branch with additional branches in plan, UAB is strategically opting for poised, sustainable, and diversified growth."

05 Dec 2010UAB Trade Finance Skills Workshop – Abu Dhabi

December 5 2010, Sharjah, UAE: United Arab Bank (UAB) hosted once again a Trade Finance Workshop for its corporate customers. Following the tremendous success of UAB's previous workshop in Dubai, the workshop took place again this year at the Fairmont Bab Al Bahr Hotel in Abu Dhabi targeting the Bank's Abu Dhabi and Al Ain based customers.

The workshop was conducted by Vincent O'Brien who is a long standing member of the ICC Banking Commission and is the ICC Representative to the WTO Expert Group on the Financial Crisis. Vincent was recently appointed as Chair of the ICC's Market Intelligence Working Group.

The workshop mainly tackled Incoterms (International Commercial Terms) 2010 Rules that will apply globally from January 2011. The Rules set out sellers and buyers obligations under the International Contract of Sale. UAB organized this timely workshop one month in advance of the Rules to support its customers in their International Trade business.

November 9 2010, Sharjah, UAE: United Arab Bank (UAB) today reopened its Sheikh Zayed Road Branch with a startling actual ball 'kick-off' by the legendary football champion Fabio Cannavaro. The crowd watched in astonishment as the Captain of the 2006 World Cup Winning Team and now Captain of Al Ahli Football Club in Dubai kicked a goal through the doors of the new Sheikh Zayed Road branch of United Arab Bank, one of the UAE's oldest and most conservative banks.

Paul Trowbridge, UAB's Chief Executive Officer, commented: "Over the last 12 months, UAB has won a series of awards marking its continued rise to success, to be the banker of choice among its selected customer segments." He continued: "Fabio's presence with us today is an emblem of our shared unwavering commitment to excellence, our common pledge for success, and our joint vision and passion to win. To all of us, sport is about partnership, teamwork, and discipline, and so is banking."

03 Nov 2010United Arab Bank Opens its First Branch in Fujairah

November 3 2010, Sharjah, UAE: United Arab Bank (UAB) today opened its first branch in Fujairah under the patronage of HH Sheikh Mohammed Bin Hamad Bin Mohammad Al Sharqi, Crown Prince of the Emirate of Fujairah.

The new branch is situated in a prime strategic location in Al Rostamani Tower on Hamad Bin Abdullah Street and offers both conventional and Islamic banking services to retail and corporate customers, featuring an Islamic Banking Suite alongside an exclusive 'Sadara' Wealth Management lounge dedicated to serve the high-end customers of the Bank.

UAB's Director, Sheikh Sultan Bin Saqr Al Qassimi, stated: "Today's opening showcases our commitment to create and maintain a major banking entity capable of keeping up with the challenges of growing economic demands and customer requirements across all the seven Emirates. I am inviting everyone on board to genuinely contribute to the success of this Branch aiming to support the economic development of the UAE and its people."

04 Aug 2010United Arab Bank Launches Islamic Credit Card

August 4 2010, Sharjah, UAE: United Arab Bank (UAB) announces the launch of its first global Islamic Credit Card with a distinctive vertical design that makes it unique to the Islamic Credit Card arena in the UAE.

UAB had launched its Islamic Banking Services in March this year with three products initially covering Current Accounts, Investment, and Goods Murabaha. Soon after, the bank introduced two more products before the launch of its Islamic card, namely Vehicle Murabaha and Savings accounts. The new Credit Card comes to complement and strengthen the Bank’s Islamic product offering in line with its strategy to build a progressive portfolio of reliable banking products that can meet the growing needs and requirements of its Islamic banking customers.

15 Jul 2010Half Year Results 2010

July 15 2010, Sharjah, UAE: United Arab Bank P.J.S.C. today announced its financial results for the six months ended 30 June 2010.

In challenging financial markets, United Arab Bank maintained earnings momentum recording net profit growth of 5.3% to AED 141 million for the six months ended 30 June 2010, compared to AED 134 million achieved during the same period last year.

Earnings per share improved to AED 0.141 in June 2010 compared with AED 0.134 in June 2009. The Bank maintained good volume growth in the first half of the year despite the decline at the end of the first quarter with Loans and Advances increasing by 8.4% to AED 5.2 billion at 30 June 2010 from AED 4.8 billion at the end of December 2009.

22 Jun 2010United Arab Bank Reaps 'Best Trade Finance House' Award

June 22 2010, Sharjah, UAE: United Arab Bank has been awarded "Best Trade Finance House" by The Banker Middle East. The award has formally been presented to the Bank on a special Product Award Ceremony held at the Emirates Towers Hotel in Dubai on 16th June.

Paul Trowbridge, UAB's Chief Executive Officer, commented: "The winning of this prestigious award highlights our efforts and dedication in developing our Trade Finance offering, based on feedback we get from our customers. It will undoubtedly strengthen our reputation amongst our clients and will pave the way for a strong growth in our key client segments. It also means that we must keep the pace to maintain and boost our reputation as an excellent Trade Finance Services provider." He also added: "UAB has left no stone unturned to become a world-class bank in the UAE. We realize that only a single-minded focus on product quality and service excellence would help us get here. Today, we are proud to say that we are well on our way towards that goal."

27 Apr 2010United Arab Bank Reaps 'Best Customer Service' Award

April 27 2010, Sharjah, UAE: United Arab Bank has been awarded 'Best Customer Service' by The Banker Middle East, the highly regarded banking magazine in the MENA region. The award has formally been presented to the Bank on a special Product Award Ceremony held at the Emirates Towers Hotel in Dubai on 20th April.

Paul Trowbridge, UAB's Chief Executive Officer, commented: "The winning of this prestigious award highlights our efforts and dedication in developing our products, based on feedback we get from our customers. It will undoubtedly strengthen our reputation amongst our clients and will pave the way for a strong growth in our key client segments. It also means that we must keep the pace to maintain and boost our reputation as an excellent banking service provider."

DUBAI, April 19 (Reuters) - Sharjah-based United Arab Bank said it aims to deliver profit growth consistent with past performance, as it posted first quarter net profit slightly below the same period last year.

UAB posted first-quarter net profit of 65.5 million dirhams ($17.84 million) on Monday, just slightly below earnings of $65.8 million dirhams in the same period last year.

"UAB aims to deliver the sort of solid growth consistently with what we've done in the past," Chief Executive Officer Paul Trowbridge said on Monday. "We believe we can deliver that."

In a separate interview with Reuters last week, Trowbridge said the banking industry still faced challenges in the wake of the global financial crisis, and that it would now have to adjust to "a new normal" after years of experiencing heady growth on the back of a booming real estate market.

Trowbridge said UAB had mostly avoided real estate, opting instead to focus on lending to mostly medium-sized businesses in the UAE in sectors such as trade, services and manufacturing.

15 Apr 2010UAB 3 months Q1 Mar. 10 results announcement

April 15 2010, Sharjah, UAE: United Arab Bank P.J.S.C. today announced its financial results for the first quarter ended 31 March 2010.

In challenging financial market conditions, United Arab Bank P.J.S.C. recorded a net profit of AED 65.5 million for the first quarter ended 31 March 2010, which was in line with the profit figure achieved during the same period last year.

DUBAI (Zawya Dow Jones) -- Sharjah-based United Arab Bank, which is 40%, owned by Commercial Bank of Qatar, does not expect a surge in its non performing loans or NPLs, this "challenging" year and will go ahead with plans to set up four new units across the United Arab Emirates, the bank’s chief executive said.

"The bank’s NPLs in 2009 were 1.7% of total exposure and we don't expect any significant increase this year," Paul Trowbridge told Zawya Dow Jones in an interview.

The United Arab Emirates central bank said earlier this month it expected loan defaults to rise to 6.4% of overall loans this year, up from about 4.5% at the end of last year.

UAB said in January net profit for 2009 rose 12% to 280.77 million dirham ($76 Million), compared to 250.2 million a year earlier.

The bank took AED 6 million in corporate provisions last year, and AED 34 million total provisions, including commercial and retail.

17 Mar 2010United Arab Bank Launches Islamic Banking Services

The Chairman of the Board of United Arab Bank, H.E. Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, unveiled the new Islamic Banking Offering at a special ceremony held at the House of Calligraphy in the Heritage Area in Sharjah in the presence of the Head of the Bank’s Shari’ah Supervisory Board, Sheikh Abdul Aziz Al Khulaifi, along with the Bank’s Directors and customers.

The Chairman, H.E. Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, stated: “Today, we are launching a new chapter in our Bank’s history. Islamic Banking is a rapidly growing phenomenon in the financial markets because it answers the call of discerning Muslims who seek a banking system that conforms to their religious beliefs and is Shari’ah compliant.”

Paul Trowbridge is the chief executive officer of the United Arab Bank (UAB), with a proven track record in top managerial roles. Australian-born Trowbridge started his career with Price Waterhouse, and then spent more than 20 years in a range of general management, credit risk, as well as retail, private and corporate banking positions with Westpac Corporation, the largest Australian bank. Prior to his new role at UAB, he was deputy CEO at the National Bank of Oman. Last month, Executive spoke with Trowbridge at UAB’s newest Sadara Wealth Management branch in Sharjah in the United Arab Emirates.

E In January you announced a 12 percent growth in profits for 2009. How were you able to achieve growth when so many banks in the region saw major losses, especially in the UAE?

I think UAB is an unusual bank. It was established 35 years ago by a group of business people to meet the needs of their community. We haven’t changed; we’re a business bank lending to the services and manufacturing segments. Historically we’ve never done much property, but where we have it’s been dealing with ‘active assets,’ where people have used real estate as part of their activities, so factories, car parks, shopping centers, accommodation and hospitals.

March 01 2010, Sharjah, UAE: United Arab Bank (UAB) was awarded for maintaining 100% Emiratization of Branch Manager Positions for three consecutive years.

The award was presented by H.H. Sheikh Dr. Sultan Bin Mohammad Al Qassimi, Member of the Supreme Council, Ruler of Sharjah, during the Opening and Award Ceremony of the 12th National Career Fair Exhibition in Sharjah held on 24th February 2010.

Paul Trowbridge, UAB’s CEO who received the award, commented: "Winning this award is a clear indication of UAB’s will and commitment to support and promote Emiratization in the Bank. Our objective is not only to meet Emiratization requirements but to also offer career advancement opportunities to qualified and talented UAE Nationals in various junior and senior positions."

18 Feb 2010United Arab Bank General Assembly Meeting

The General Assembly of the Shareholders of United Arab Bank (UAB) approved during its annual general meeting held yesterday February 17th at Coral Beach Resort in Sharjah the proposal of the Board of Directors regarding the appropriation of profits for the year 2009 by distributing a cash dividend equal to 15% of the paid-up capital.

UAB’s Board of Directors had initially proposed a 22% cash dividend that was subsequently reduced to 15% due to a recent Central Bank regulation that has restricted all local Banks’ cash dividend allocation to a maximum ceiling of 50% of the net achieved profit.

10 Feb 2010UAB Cricket Team Beat Solanki CC

Sharjah – United Arab Bank, aided by a brilliant century by Jamshed, defeated Solanki CC in a high-scoring match of the Sharjah Invitation Tournament organized by Sharjah Cricket Council at Al Dhaid Cricket Village. Jamshed smashed 103 as United Arab Bank made a huge 241 for six in the allotted overs. Sohail (36), Afzal(30) and Nadeem (25) were other main scorers. Solanki, in reply, were bowled out for 191 in 18 overs despite a fluent 98 by Mohammed Omar. Kashif and Azhar took three wickets each. Meanwhile, in the Inter-Bank tournament, also organized by Sharjah Cricket Council, Emirates Islamic Bank (EIB) won their respective matches against Royal Bank of Scotland and Barclays Bank with ease.

10 Feb 2010Islamic banking inspiration for the future (Interview with the CEO/ Emirates Business 24/7)

By CL Jose

When majority of the banks are struggling to retain their last year's profit levels and some even finding it difficult to stay in the black, there have been a few banks that have been successful in improving their performance year after year. United Arab Bank (UAB) did it for the last year (2009) as well when the bank announced a 12 per cent growth in its net profit. UAB's Chief Executive Officer Paul Trowbridge told Emirates Business that the bank has put in enormous effort in reining in the cost and thus to bring down the cost to income ratio.

How did UAB manage to improve its profitability when others are struggling to retain the 2008 performance? Using the resources and professional relationships of our 40 per cent shareholder Commercial Bank of Qatar [CBQ], we were able to take out layers of processes and bring the customer much closer to us – we eliminated paperwork and made processes much more user- friendly.

The launch took place alongside the inauguration ceremony of UAB’s new Branch in Sharjah at a prime location in Al Muhannad Tower on Buhaira Corniche. The Branch will incorporate an exclusive Sadara Lounge where dedicated Relationship Managers will receive Sadara customers in surroundings that recognize their privileged status in UAB.

The Chairman of the Board of United Arab Bank, Sheikh Faisal Bin Sultan Bin Salem Al Qassimi, stated: "Today’s event is a step towards the realization of a more comprehensive vision that we are pursuing – that of creating and maintaining a major banking entity capable of keeping up with the challenges of growing economic demands and our customer requirements."

19 Jan 2010UAB Full Year 2009 Results - Continued Growth with Net profit up 12% to AED 281 million

January 19 2010, Sharjah, UAE: United Arab Bank P.J.S.C. today announced its financial results for the year ended 31 December 2009.

In challenging financial markets, United Arab Bank maintained its earnings momentum and recorded net profit growth of 12% to AED 281 million for the year 2009, compared to AED 250 million achieved during 2008.

Earnings per share improved to AED 0.28 for 2009 compared to AED 0.25 in 2008.

25 Nov 2009United Arab Bank Receives First Prize in Webranking in the UAE by Union of Arab Banks

November 25 2009, Sharjah, UAE: United Arab Bank won First Prize in Webranking in the UAE under Retail Category offered by the Webranking Committee and Union of Arab Banks.

UAB’s new website ranked first in retail category among 200 listed banks and financial institutions in nine different Arab countries. The award was presented to UAB’s CEO, Mr. Paul Trowbridge, on the second day of the Annual Arab Banking Conference 2009 organized by the Union of Arab Banks in a prestigious ceremony held at the Intercontinental Phoenicia Hotel in Beirut, Lebanon. The event was attended by VIPs, Ambassadors, diplomats, economists, academics, as well as bankers, media and other guests from Bahrain, Egypt, Jordan, Lebanon, Oman, Qatar, Saudi Arabia, and United Arab Emirates.

November 19 2009, Sharjah, UAE: United Arab Bank awarded yesterday a 'Best Book of the Year' Award to 'Dictionary of the Most Prominent Arab Men and Women' published by the renowned Lebanese Dar Al Ilm Lil Malayin Publishing House.

The award was presented to the winner on the sidelines of the 28th edition of Sharjah International Book Fair by UAB's Chief Executive Officer, Paul Trowbridge.

Following the globally-renowned success of the Sharjah Book Fair, United Arab Bank joined efforts to engage in this success story to further support the cultural and intellectual role that the Emirate of Sharjah has successfully forged itself over the years.

26 Oct 2009UAB 9 months Q3 Sep. 09 Results Announcement

October 15 2009, Sharjah, UAE: United Arab Bank P.J.S.C. today announced its financial results for the nine months ended 30 September 2009.

In challenging financial markets, United Arab Bank maintained its earnings momentum and recorded net profit growth of 12% to AED 204 million for the nine months ended 30 September 2009, compared to AED 182 million achieved during the same period last year.

Earnings per share improved to AED 0.20 for the nine months to 30 September 2009 compared to AED 0.18 in the same period last year.

14 Sep 2009UAB Appoints New Head of Sadara Wealth Management

September 14 2009, Sharjah, UAE: United Arab Bank announced the appointment of Sheikh Mohammed Abdulla Al Nuaimi, previously Manager of the Bank’s main Sharjah Branch, as Head of Sadara Wealth Management.

Sheikh Mohammed Al Nuaimi is an MBA graduate with a proven track record in banking and finance and has previously assumed various managerial positions with some well known banks in the UAE including UAB.

UAB's CEO, Mr. Paul Trowbridge commented: "UAB will soon introduce a whole new experience of banking to our customers. Designed to cater to the needs of our Affluent Customers, Sadara Wealth Management will provide a high level of personalized services with superior standards of reliability and confidentiality. The new Head of Sadara will be instrumental in ensuring our success and I am delighted to have a person of the caliber of Sheikh Mohammed whose skills and experience will be invaluable for this role."

11 Sep 2009United Arab Bank plans to offer Islamic banking solutions

September 11 2009, Sharjah, UAE: United Arab Bank has plans to offer Islamic banking solutions either through a dedicated Islamic banking window or an Islamic banking subsidiary, the bank's top officials told Gulf News.

"Our board is actively considering the option of offering Islamic banking solutions. Our partner, Commercial Bank of Qatar (CBQ) has the expertise in Sharia compliant products and services. Although we have not decided on the timing of the launch, it is very much on our plan," said Shaikh Faisal Bin Sultan Bin Salem Al Qasimi, Chairman of United Arab Bank.

CBQ has a 40 per cent equity stake in the lender which it acquired in 2007. The UAB management said that there is a growing demand for Islamic products from its existing customer base.

"The board and the management are keen to provide appropriate products that have demand in the local and regional environment. Keeping in mind we are primarily an Arab bank and operating in a region where there is a strong demand for Sharja compliant products. We are taking early steps to offer limited number of Islamic product to our customers," said Paul Trowbridge, chief executive officer.

September 11 2009, Sharjah, UAE:A combination of prudent lending policies and a professional approach to risk management has kept the Sharjah-based United Arab Bank (UAB) protected from the impact of mounting bad loans that affected the banking industry in the wake of the global financial crisis.

While the bank intends to continue its cautious policies, it has plans to expand its businesses in niche retail segments, Islamic financial services and wealth management.

Incorporated in 1975, UAB offers a range of fin-ancial services in both corporate and retail banking throughout the UAE.

The bank was established as a joint venture between UAE investors and Société Générale (SG). UAB became part of a GCC regional banking alliance in December 2007 following the acquisition of a 40 per cent stake by the Commercial Bank of Qatar, Qatar's largest private sector bank.

August 30 2009, Sharjah, UAE: United Arab Bank's Sadara Platinum Card has won "Best New Credit Card Design" Award in what has been described as "unique, fresh and innovative" artwork by Visa's Executives. Proudly for the Middle East region, a UAE credit card will be prominently displayed on the Visa Website and in Visa's London Headquarters.

Designed to cater to Affluent customers through UAB's newly launched Sadara Wealth Management service, UAB's new Platinum Card empowers Sadara members with exclusive privileges and a design that has been tailored to reflect their individual needs and status.

August 24 2009, Sharjah, UAE: Capital Intelligence, the International Credit Rating Agency, has maintained its foreign currency ratings of United Arab Bank (UAB) at BBB+ long-term and A2 short-term. The long-term rating indicates good credit quality with satisfactory capacity for timely fulfillment of financial obligations. The A2 rating suggests very strong capacity for timely repayment over the short-term. The Financial Strength rating is maintained at BBB.

The ratings are underpinned by CBQ’s ownership, its management control of the Bank and the liquidity support extended by the Federal Government and Central Bank. In addition, UAB’s good asset quality and profitability support the Financial Strength rating. A ‘Stable’ outlook is appended to all the ratings given the Bank’s strong half-year 2009 results.

15 Jul 2009Continued Growth for Six Months ended June 2009

July 15 2009, Sharjah, UAE: United Arab Bank P.J.S.C. today announced its financial results for the six months ended 30 June 2009.

In challenging financial markets, United Arab Bank maintained earnings momentum recording net profit growth of 11% to AED 134 million for the six months ended 30 June 2009, compared to AED 121 million achieved during the same period last year.

Earnings per share improved to AED 0.134 in June 2009 compared to AED 0.121 in June 2008. Growth momentum has been maintained despite a decline in volumes since December 2008 due to the slowdown resulting from market conditions. For the first half year of 2009 loans increased by 8 % to AED 5.0 billion from AED 4.6 billion for the prior year period and customers’ deposits rose by 5 % to AED 4.4 billion from AED 4.2 billion in the first half year of 2008.

While most banks in the UAE focused on unrestricted growth during the past four or five years, there were few banks such as United Arab Bank (UAB), that chose to tread a conservative path serving its loyal clients and adding quality to its offerings. This has paid off, according to Paul Trowbridge, Chief Executive of UAB.

"We do not have any toxic assets on our books and we have been able to improve our earnings quarter after quarter," he said. Trowbridge took over the reins of this Sharjah-headquartered bank in December, at the peak of the financial crisis.

03 Jun 2009Omar Alfardan appointed UAB Vice-Chairman

Omar Hussain Alfardan has been appointed Vice-Chairman of United Arab Bank (UAB), one of Commercial bank’s strategic alliance partners in the region.

UAB, in which Commercial bank took a 40% shareholding in 2008, operates nine branches in the UAE, offering corporate and retail banking services. The bank had total assets of 7.2bn UAE dirhams as on March 31.

02 May 2009United Arab Bank extends its Banking hours

May 2 2009, Sharjah, UAE: United Arab Bank P.J.S.C. today announced the extension of its Counter Service hours throughout the Bank's network to handle customer teller transactions from 8.00 a.m. to 2.00 p.m. daily, Saturdays through Thursdays.

Mr. Paul Trowbridge, the Bank's Chief Executive Officer, commented: "This is another step in the ongoing challenge to enhance and sustain our relationship with customers. We are absolutely focused on getting closer to them, creating a strong customer caring organization. Extending our banking hours is only one of many initiatives we are taking to provide the best value to customers and stakeholders."

United Arab Bank P.J.S.C maintained its earnings momentum recording net profit growth of 21% to AED 66 million for the first quarter ended 31 March 2009, compared to AED 55 million achieved during the same period last year. "We hope those initiatives will continue to support that growth, " added Mr. Trowbridge, the Bank's CEO.

20 Apr 2009United Arab Bank First Quarter 2009 Financial Results

Strong Growth with Net profit up 21% to AED 66 million

April 20 2009, Sharjah, UAE: United Arab Bank P.J.S.C. today announced its financial results for the first quarter ended 31 March 2009.

In challenging financial market conditions, United Arab Bank P.J.S.C maintained earnings momentum recording net profit growth of 21% to AED 66 million for the first quarter ended 31 March 2009, compared to AED 55 million achieved during the same period last year.

2008 Net Profit Up 18% to AED 250 mio

Total assets up 22% to AED 7.6 bio

Total loans up 40% to AED 5.5 bio

Customer deposits up 21% to AED 5 bio

ROAE increased by 19% to AED 0.31

The General Assembly of the Shareholders of United Arab Bank (UAB) approved during its annual general meeting held yesterday April 15th at Coral Beach Resort in Sharjah the proposal of the Board of Directors regarding the appropriation of profits for the year 2008 by distributing a scrip dividend of 25%.

United Arab Bank (UAB) today announced that Paul Trowbridge has been appointed its new Chief Executive Officer.

Mr. Trowbridge is an Australian-born banker with a proven track record in diverse top bank managerial roles. Holding a Bachelor of Economics, he started his career with Price Waterhouse and then spent more than 20 years in a range of General Management, Credit Risk, and Corporate Banking positions with Westpac Corporation, the largest Australian Bank and one of the world's highest rated banking institutions. Prior to his new role, he was Deputy CEO at National Bank of Oman, responsible for driving strategic business initiatives.

21 Mar 2009Full Year 2008 Results

Saturday 21st March 2009, Sharjah, UAE: United Arab Bank P.J.S.C. today announced its financial results for the full year ending December 31 2008.

Results highlights

Net profit up 18.4% to AED 250.2 million

Total assets up 22.2% to AED 7.5 billion

Total loans up 39.7% to AED 5.5 billion

Customer deposits up 20.5% to AED 5 billion

ROAE increased to 19.1% from 17.8%

Against a volatile economic backdrop in 2008, United Arab Bank P.J.S.C. maintained strength and momentum with solid earnings growth. The Bank's Net Profit increased by 18.4% to AED 250.2 million for the year ended 31 December 2008, compared to AED 211.3 million achieved in 2007.

M/s UAB Shareholders Investment Portfolio Ltd announced their decision to distribute, starting 20th January 2009, profits from the proceeds of the sale of the Bank's shares held by the Portfolio on 17th December 2007, which had been waived by the owners of the Portfolio for the benefit of all Bank's Shareholders, to the eligible UAB Shareholders registered in the Bank Share Register.

The Portfolio's profit amounted to AED 567,331,055 million representing 93.44% of shared capital at the time. Accordingly, as per the Portfolio's request and in accordance with the Resolution of the Extraordinary Meeting of UAB Shareholders held on November 28th 2007, the Bank's branches are to start from 20th January 2009 the disbursement of the said profits of the Portfolio to eligible UAB shareholders.

UAB major shareholders had previously bought, in February 2005, Societe Generale's 20% stake in the Bank via a portfolio owned by major shareholders on behalf of all shareholders.

DUBAI, Dec 16 (Reuters) - United Arab Bank (UAB) expects fourth-quarter earnings growth to be "stable and broadly in line" with previous quarters, reflecting conditions in its main markets, its chief executive said in an interview.

"We generally don't like to provide surprises, there isn't much difference between the reported consistent trend of the first three quarters in our results," Paul Trowbridge told Reuters.

"The underlying business, the local economy based on selling real goods and providing real services, that hasn't changed dramatically," said the Australian-born banker who was previously deputy-chief at National Bank of Oman.

UAB, whose main shareholder is Commercial Bank of Qatar with a 40 percent stake, said in October net profit in the first nine months rose 12 percent to 204 million UAE dirhams ($55.54 million) from the same period in 2008.

27 Nov 2008Supports Higher Education of UAE Nationals at HCT

For the third year in a row, United Arab Bank (UAB) was presented with an award in recognition of its continuously active role in supporting and sponsoring the education and development of UAE Nationals at the Higher Colleges of Technology in Sharjah. The award was presented at the graduation ceremony held on 24 November at HCT premises in Sharjah under the patronage of HH Sheikh Sultan Bin Mohamed Bin Sultan Al Qassimi, Crown Prince and Deputy Ruler of Sharjah, in the presence of HH Sheikh Abdullah Bin Salem Al Qassimi, Deputy Ruler of Sharjah, & HE Sheikha Lubna Al Qassimi, Minister of Foreign Trade.

The award came in recognition of the support UAB has extended to HCT students offering them academic sponsorships and attractive career opportunities at the Bank in various fields. It was received, on behalf of UAB, by Mr. Mohamed Abu Hindi, Manager-Head of Human Resources. We highly value our partnership with HCT. Our aim is to play a pivotal role in enlightening, educating, and motivating students across HCT," stated Mr. Abu Hindi.

20 Oct 2008Strong Growth for Nine Months Ended September 2008

Net profit up 20.5% to AED 182 million.

Total assets up 15.1% to AED 7.1 billion

Total loans up 39.7% to AED 5.5 billion.

Customer deposits up 14.6% to AED 4.7 billion.

ROAE increased to 18.5% from 17.4%.

United Arab Bank P.J.S.C. today announced net profit growth of 20.5% to AED 182 million for the nine months ended 30 September 2008, compared to AED 151 million achieved during the same period last year.